Is this a multiple choice question?
Answer:
Confucianism brought a stability into a country which had been effected in many ways from previous changeovers in dynasty's. Ancient China also shows it was valued due to it being kept in practice till the end of the Ancient Chinese era and beyond. Confucius believed that every person had there place in society.
Scarcity is a basic economic problem which is faced by every society due to the fact that the wants if economic agents such as individuals, firms or the government is unlimited.
- Scarcity simply means when a particular thing is in short supply. Scarcity exists due to the fact that our wants are unlimited and there are limited resources to meet such wants.
- In the map above, it can be noted that only Japan has mineral resources while the other countries do not. Also, the scarcity that the United States faces are skilled labor and water.
In conclusion, if a country has some resources but they're not efficiently managed, it'll still bring about scarcity.
Read related link on:
brainly.com/question/4747543
Answer:
By encouraging inducement to save and also mobilising savings from the public, banks help to increase the aggregate rate of investment in the economy. This creation of credit, if it is used for productive purposes, greatly larges production and investment and thus promotes economic growth.
how?
The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. Bank loans facilitate commerce.
Manufacturers borrow from banks the money needed for the purchase of raw materials and to meet other requirements such as working capital. It is safe to keep money in banks. Interest is also earned thereby. Thus, the desire to save is stimulated and the volume of savings increases. The savings can be utilised to produce new capital assets.
