1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
prisoha [69]
3 years ago
10

The scarcity problem:- Persists only because countries have failed to achieve continuous full employment.- persists because econ

omic wants exceed available productive resources.- has been solved in all industrialized nations.- has been eliminated in affluent societies
Business
1 answer:
ladessa [460]3 years ago
3 0

Answer:

Persists because economic wants exceed available productive resources.

Explanation:

According to Lionel Robbins, Economics is the science which studies human behavior as a relationship between ends and scarce means which have alternative uses.

The problem of scarcity is that our wants are always beyond what we can produce with our resources.

Economics is the solution to this problem of what resources to use, how best to use them, and when to use them.  

Because of this scarcity, all people have to make choices. When making choices, we assess the opportunity cost or the alternative forgone.

The opportunity cost of taking action is what we could have got if we had taken an alternative action.

You might be interested in
If the supply of a good increased, what would be the effect on the equilibrium price and quantity?
kakasveta [241]

Answer:

An increase in supply, all other things unchanged, will cause the equilibrium price to fall; quantity demanded will increase. A decrease in supply will cause the equilibrium price to rise; quantity demanded will decrease.

5 0
3 years ago
Generally, a high ___________ ratio could lead investors and creditors to view the company as being very risky debt to owners' e
Ipatiy [6.2K]

High <u>debt to owner's equity ratio. </u>

This is total liabilities divided by total assets and shows a company's financial leverage, also known as their ability to handle current and future financial obligations.

6 0
3 years ago
Read 2 more answers
will lie above the marginal product curve for the firm with less capital. must equal the marginal product curve for the firm wit
Ipatiy [6.2K]

Answer:

busineess would have to chnage that

3 0
2 years ago
Beswick company your team is allocated a project involving a major client, the beswick company. although the organization has ma
lianna [129]

Answer: A. low degree of substitutability.

Explanation:

Substitutability refers to the availability of alternative options to the variable in question. If something is said to be highly substitutable or to have a high degree of substitutability, then that means that it is easily replaceable because it has alternatives. The reverse holds true.

Therefore, Jamie can be said to have a low degree of substitutability because the client wants to deal with only him and if he is removed or unavailable, the company would not be able to deal with the client.

6 0
3 years ago
Based on the following information: Rate of Return If State Occurs State of Probability of Economy State of Economy Stock A Stoc
Sonja [21]

The expected return for stock A and B is 8.55% and 15.11% respectively.

<h3>What is the Expected return?</h3>

= (Probability of Recession × Return during recession) + (Probability of normal × Return during normal) + (Probability of boom × Return during boom)

Expected return for stock A:

= (0.20 * .05) + (0.57 * 0.08) + (0.23 * 0.13)

= 0.0855

= 8.55%

Expected return for stock B:

= (0.20 * 0.20) + (0.57 * 0.09) + (0.23 * 0.26)

= 0.1511

= 15.11%

Therefore, the expected return for stock A and B is 8.55% and 15.11% respectively.

Read more about Expected return

<em>brainly.com/question/25821437</em>

#SPJ1

3 0
2 years ago
Other questions:
  • In a fractional-reserve banking system, an increase in reserve requirements__________.
    11·1 answer
  • Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets
    8·1 answer
  • What term refers to the methods involved in processing information, applying knowledge, forming perceptions, and making decision
    8·2 answers
  • If the country were experiencing a recession, the Federal Reserve would _______________, lower the reserve requirement &amp; buy
    15·2 answers
  • Those interested in entrepreneurship volunteer their time with service organizations for all of the following EXCEPT.
    8·1 answer
  • 1. Which Response core capability involves ensuring the capacity for timely communications in support of security, situational a
    6·1 answer
  • For the current year, Delta Corporation has beginning and ending inventories of $80,000 and $100,000, respectively. Cost of good
    5·1 answer
  • When the United States sends money to Japan to help earthquake survivors, in which account is this transaction recorded
    6·1 answer
  • Your firm needs a computerized machine tool lathe which costs $51,000 and requires $12,100 in maintenance for each year of its 3
    15·1 answer
  • 1. Which of the following is an asset?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!