True. With competition in a market, firms have to compete to stay ahead of the others
Answer:
A) we often do not have sufficient resources to achieve our objectives
Explanation:
Scarcity is an economic problem that comes with scarce resources and unlimited wants. In this situation people have to decide on how to allocate resources better so as to satisfy their need, which involves opportunity cost.
Scarcity occurs when resources needs to satisfy ends are limited in supply. It is a foundational problem in economics.
Answer:
the principal amount at a rate of 4% is 2000
principal amount at a rate of 3.5% is 4000-2000 =2000
Explanation:
We have given total amount borrowed = $4000
Let x amount is borrowed at a rate of 4%
So $4000-x is borrowed at rate of 3.5%
Total interest = $150
We know that simple interest 
So 
0.5 x=1000
x = 2000
So the principal amount at a rate of 4% is 2000
And principal amount at a rate of 3.5% is 4000-2000 =2000
False, while the supply of major film stars is small and relatively fixed in the short run, the demand for the average doctor or nurse is quite large globally. By stating that the marginal benefit of services provided by doctors and nurses is considerably lower than the marginal benefit of services provided by major film stars, the diamond-water paradox is illustrated. This suggests that while there is a greater demand than there is for major film stars, there is a greater supply of doctors and nurses.
The marginal utility that major movie stars provide to moviegoers is greater than the marginal utility that patients receive from doctors and nurses. This is due to the fact that people who use the services of well-known actors and actresses are more willing to pay for them than people who use the services of physicians and nurses. Though a person's health is more important to their quality of life than movies, consumers value movies more for their utility than their health, especially once they have achieved a basic level of sound health. This actually explains the "diamond water paradox," in which consumers are willing to pay more for valuable diamonds than they are for the water that sustains life. In plain English, people are more willing to value the satisfaction they get from watching one more movie than they are from receiving more medical attention. That implies that people only give basic healthcare needs a thought.
Note that the full question is:
Movie stars such as Salma Hayek, Samuel L. Jackson, Dwayne Johnson, and Jennifer Lawrence are paid millions of dollars per movie, which can take as much as 6 months of full-time work for an actor. By contrast, doctors and nurses earn considerably less over the same time period. Why might this be? While the supply of (major film stars OR doctors and nurses) is small and relatively fixed in the short run, the demand for (the average doctor or nurse OR movies featuring these film stars) is quite large globally. By contrast, the marginal benefit of the services provided by (major film stars OR doctors and nurses) is relatively low, although the total benefit is quite high. This illustrates the diamond-water paradox. True or False
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