This topic contains a solution. Click here to go to the answer

Author Question: What is scarcity and why does it exist? How is scarcity related to the study of ... (Read 204 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
What is scarcity and why does it exist? How is scarcity related to the study of economics?

Question 2

The statement American workers are lazy is an example of positive economic analysis.
 a. True
  b. False
  Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

enass

  • Sr. Member
  • ****
  • Posts: 380
Answer to Question 1

Scarcity exists because resources are limited while wants are unlimited. Scarcity means we are unable to have as much as we would like. Economics is the study of how human beings attempt to maximize satisfaction in the face of scarcity.

Answer to Question 2

False



P68T

  • Hero Member
  • *****
  • Posts: 509

enass

  • Sr. Member
  • ****
  • Posts: 380

 

Did you know?

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

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

Malaria mortality rates are falling. Increased malaria prevention and control measures have greatly improved these rates. Since 2000, malaria mortality rates have fallen globally by 60% among all age groups, and by 65% among children under age 5.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

For a complete list of videos, visit our video library