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 142 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?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Eat fiber! A diet high in fiber can help lower cholesterol levels by as much as 10%.

If sociologists were to study land diving on Pentecost Island in Vanuatu, they could use a variety ... If sociologists were to study land diving on Pentecost Island in Vanuatu, they could use a variety ...
Hannah Höch, Study for "Cut with the Kitchen Knife Dada through the Last Weimar Beer Belly ... Hannah Höch, Study for "Cut with the Kitchen Knife Dada through the Last Weimar Beer Belly ...
Procedures and Diagnostic Tests Related to the Endocrine System Procedures and Diagnostic Tests Related to the Endocrine System
Procedures and Diagnostic Tests Related to the Eye Cont Procedures and Diagnostic Tests Related to the Eye Cont
A DPFE sensor and related components. A DPFE sensor and related components.
Similar, But Not Related Similar, But Not Related
Video: Nerve Impulse Transmission Animation

For a complete list of videos, visit our video library