The <em>concept of scarcity</em> states that there will be a deficit regarding the supply of a certain good in comparison the demand for it. Therefore, a state budget must revise its current state knowing that there will always be some players who will lose benefits in the attempt of shifting the assignment of resources.
The <em>marginal analysis</em> is an examination of the additional benefits a certain activity gets compared to a number of additional resources assigned to it. It helps the state government have a better view of where to allocate resources. As there are sectors that will probably gain more benefits than others with the same assigning of resources. The key to this analysis is to now the best amount to allocate to each sector in order to get the maximum efficiency of the budget.
Answer and Explanation:
From A&P by John Updike, Sammy the central character is fired for sticking up to his beliefs and standing up for the girls in the store. According to him it is hypocritical for people to allow girls or see it as normal for girls to wear swimsuits to the beach but are not allowed or it is unacceptable to wear it to the market. In the story, Sammy aims to live an honest life and rebels against society conditioning.
A command economy typically has:
- The demand and the supply controlled by the government.
- Prices that are artificially controlled.
- Resource allocation is determined by macroeconomic considerations, as opposed to those of small firms or business owners.
The most famous example was that of the former Soviet Union.
Martin Luther King participated in the boycott. it was a campaign of social protest and it was a very important event in the civil rights movement.
