« previous next »

Author Question: Explain why even the most affluent people, businesses and counties never solve the problem of ... (Read 84 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?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

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.

In 2006 an Iraqi tribunal convicted Saddam Hussein of murdering his own people and sentenced him to In 2006 an Iraqi tribunal convicted Saddam Hussein of murdering his own people and sentenced him to
How to solve a pair of linear equations using the Addition-Subtraction Method How to solve a pair of linear equations using the Addition-Subtraction Method
How to solve an exponential growth problem involving bacterial growth (Question 1) How to solve an exponential growth problem involving bacterial growth (Question 1)
People are living longer today than in previous decades People are living longer today than in previous decades
Solve for the resultant vector for the following sets of vectors using any of the different ... Solve for the resultant vector for the following sets of vectors using any of the different ...
Physics - Motion (Please help me solve these problems, I really need help) Physics - Motion (Please help me solve these problems, I really need help)
Video: DNA fingerprinting Animation

For a complete list of videos, visit our video library