This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is scarcity, and why is it a fundamental concept in economics? What will be an ideal ... (Read 101 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
What is scarcity, and why is it a fundamental concept in economics?
 
  What will be an ideal response?

Question 2

Most doctors are employed by the government and most hospitals are owned by the government in
 
  A) Canada. B) Japan.
  C) the United Kingdom. D) the United States.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mochi09

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

Scarcity refers to a situation in which unlimited wants exceed the limited resources available to fulfill those wants. Scarcity is a fundamental concept in economics because economics is the study of the choices people make to attain their goals, given their scarce resources.

Answer to Question 2

C


CBme

  • Member
  • Posts: 548
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

cici

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

The economics of conservation. The economics of conservation.
Concept Formation Concept Formation
VALUATION CONCEPT & METHODOLOGIES VALUATION CONCEPT & METHODOLOGIES
Economics question Economics question
Economics question Economics question
Illustration of the concept of overlapping genes Illustration of the concept of overlapping genes
Video: Cellular Respiration & Glucose Mobilization (Glucose transport & Phosphorylation of Glucose)

For a complete list of videos, visit our video library