« previous next »

Author Question: Explain why even the most affluent people, businesses and counties never solve the problem of ... (Read 100 times)

sheilaspns

  • Hero Member
  • *****
  • Posts: 567
on: Jun 29, 2018
Explain why even the most affluent people, businesses and counties never solve the problem of scarcity.
 
  What will be an ideal response?

Question 2

Hospitals announce that there are not enough nurses available to keep them fully staffed. Economically speaking, what does this announcement mean?
 
  A) The market wage for trained nurses is currently above the equilibrium wage.
  B) There is currently a surplus of nurses in this market.
  C) The market wage for nurses will eventually rise to the market clearing wage.
  D) The market will adjust very rapidly to correct this imbalance because anyone can be a nurse without any training.


cswans24

  • Sr. Member
  • ****
  • Posts: 317
Reply #1 on: Jun 29, 2018
Answer to Question 1

Scarcity is a problem that is never completely solved. Scarcity means that we do not ever have enough of everything, including time, to satisfy our every desire. Thus even the most affluent have limited resources and unlimited wants even though they may have solved more of their wants with their larger amount of resources.

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

For high blood pressure (hypertension), a new class of drug, called a vasopeptidase blocker (inhibitor), has been developed. It decreases blood pressure by simultaneously dilating the peripheral arteries and increasing the body's loss of salt.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Calcium consumption is essential for all people Calcium consumption is essential for all people
How to solve a distance, time, speed problem using linear algebra How to solve a distance, time, speed problem using linear algebra
How to solve inequalities involving absolute values (Part 2) How to solve inequalities involving absolute values (Part 2)
How to solve any percent change problem How to solve any percent change problem
Problem Problem
Problem Problem
Video: Protein Secondary and Tertiary Structures - Animation

For a complete list of videos, visit our video library