Mastermind333 Mastermind333
  • 18-12-2018
  • Social Studies
contestada

what does the term scarcity mean as it relates to economics?

Respuesta :

julessmith22 julessmith22
  • 18-12-2018

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

Answer Link

Otras preguntas

Which factors affect heat transfer between a warm and a cool substance? the time it took to heat the substance, the area of contact, and the specific heats of t
Your credit limit is $1,000. What is the max you should ever owe on this card? = $
Question 9 of 10 Which pairs of angles in the figure below are vertical angles? Check all that apply.
Marking as brainliest last attempt (ZOOM IN THE PHOTO) write a paragraph about the topic : bullying in schools
Exercices 1-Mets les verbes suivants à l'impératif : • (écouter) bien la leçon en classe! (vous) • (Finir) tes devoirs avant de sortir ! (tu) • (mettre ) nos vê
State 2 features each viruses have in common with non living things
When America entered World War II, they planned Operation Torch, an invasion of: A. Japan OB. Germany OC. Italy OD. North Africa F
What are the three types of family.​
which of this numbers cannot probability? a. 20% b. 0.5 c. 1.001 d. 0
Find all the missing angles and side lengths