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Alinara [238K]
3 years ago
15

A recurring theme in economics is that people:

Business
2 answers:
forsale [732]3 years ago
5 0

Answer:

The correct answer is letter "D": Have unlimited economic wants, but limited resources.

Explanation:

Scarcity <em>is the major economic problem by which individuals have unlimited wants but depend on limited resources to fulfill them</em>. That scenario pushes people to make trade-offs, meaning to sacrifice the satisfaction of part of a need so other desire can also be covered. Due to scarcity, individuals must find ways to allocate their resources efficiently.

Leni [432]3 years ago
3 0

Answer:

D. Have unlimited economic wants, but limited resources

Explanation:

Economics studies human behaviour in relation to ends and scarce means. Wants are unlimited but the resources to satisfy these wants are limited hence the resources are used to meet the unlimited wants in order of importance (scale of preference).

The wants forgone are known as the opportunity cost of the wants that are satisfied with the limited resources.

Hence a recurring theme in economics is that people have unlimited economic wants, but limited resources.

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artcher [175]

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D. Modifying the product features.

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A(n) ________ is designed to build customer goodwill, collect customer feedback, and supplement other sales channels rather than
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2 years ago
In a fractional-reserve banking system with no excess reserves and no currency holdings, if the central bank buys $100 million w
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Answer:

c. reserves increase by $100 million and the money supply increases by more than $100 million

Explanation:

Based on the information given in a situation where a FRACTIONAL-RESERVE BANKING SYSTEM has no availability of EXCESS RESERVES and no CURRENCY HOLDINGS, which means that if the central bank buys BONDS that worth $100 million, the RESERVES will tend to INCREASE by the amount of $100 million while the MONEY SUPPLY on the other hand will INCREASES by more than $100 million.

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3 years ago
Roz takes care of the neighborhood children, and in exchange, she is given
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3 years ago
As the average income in China continues to​ increase, explain how the following will​ change: a. The demand for beef b. The dem
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Answer:

C. increase if beef is a normal​ good; decrease if rice is an inferior good.

Explanation:

As the average income in China continues to​ increase, we would expect the demand for beef to increase if beef is a normal​ good and the demand for rice to decrease if rice is an inferior good.

Normal goods are goods whose demand increase with the increase in income of consumer, however, demand decreases with the decrease in the income of consumer as we know Income is a key factor, which affect the demand of goods and services. Examples of Normal goods are Beef, Pizza, etc.

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3 years ago
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