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

Author Question: What is scarcity and why does it exist? How is scarcity related to the study of ... (Read 149 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
on: Jun 30, 2018
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
Reply #1 on: Jun 30, 2018
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
Reply #2 on: Jun 30, 2018
Correct answers!


enass

  • Sr. Member
  • ****
  • Posts: 380
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Resources related to safety Resources related to safety
Leonardo da Vinci, Study of Human Proportion: The Vitruvian Man. Leonardo da Vinci, Study of Human Proportion: The Vitruvian Man.
Procedures and Diagnostic Tests Related to the Female Reproductive System Procedures and Diagnostic Tests Related to the Female Reproductive System
Homeostasis and negative feedback as related to control of body temperature. Homeostasis and negative feedback as related to control of body temperature.
The lack of permanent disruption of language-related abilities after surgical excision of the ... The lack of permanent disruption of language-related abilities after surgical excision of the ...
Computer reconstructions of the diversity in neurons that exist across species Computer reconstructions of the diversity in neurons that exist across species
Video: Natural Selection, Species Isolation and Real World Example

For a complete list of videos, visit our video library