Answer:
they wanted to cut out the Muslim and Italian middlemen, as the prices increased each time goods were passed from one trader to another trader, and gain direct access to the riches of Asia. this would require finding a route to the country that bypassed the Mediterranean sea
Scarcity refers to the condition of insufficiency where the human beings are incapable to full fill their wants in sufficient manner. In other words, it is a situation of fewer resources in comparison to unlimited human wants. Human wants are unlimited. we may satisfy some of our wants but soon new wants arise. It is impossible to produce goods and services so as to satisfy all wants of people. Thus scarcity explains the relationship between limited resources and unlimited wants and the problem there in.
Answer:
- Land, labor, and capital also are known as factors of Production
- Economies must answer the three economic questions because resources are Limited
- If an economy does not answer the three economic questions, resources may Run out
- Negative consequences can result when an economy does not answer the three economic questions.
Explanation:
The three basic economics question that must be answered are:
- What goods and services will be produced?
- How will the goods and service will be produced?
- Who will consume the goods and services?
Every society must answer these three question in order to meet the needs of its people. Every society answer these 3 basic questions differently, but each encounters the same fundamental problems, that are resourcea allocation and scarcity.
The opinion of George Washington on bigotry was that individuals
who do not cherish diversity and religious freedom are bigots and this is what
is bring into in Patel's viewpoint which is that individuals are require to
work together notwithstanding of their religion.
