Question

what is an example of the kinds of choices that a business would have to make because of scarcity?

Answer 1

If a business was running low money, there would need to be ways to save money. For example, co-workers could work more hours, but still receive the same amount of money. Also, there could be donations or a savings box for any extra money. This is all important because, any business needs a reasonable amount of money to suceed.

Answer 2

• When a company had low cash, it was possible to just save money. Work colleagues, for instance, can work longer hours, but they still have the same sum of money.
• There could also be donations or an additional money savings box. This is vital because every company needs reasonable money to succeed.
• The financial shortcomings and supply chains, work shortages, and decreasing customer demand are to be dealt with by business executives.
• In times of significant economic growth successful companies create cash reserves, which will guarantee the safety of the unavoidable cyclic decline.
• Cost controls are an obsession for executives with experience throughout the year who can foresee resource shortages and handle them effectively.

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