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hodyreva [135]
3 years ago
5

A major reason for studying Economics is to gain an understanding of how a nation can best choose to use its ___________ and how

we must make rational decisions in order to move toward a higher standard of living for all. A major reason for studying Economics is to gain an understanding of how a nation can best choose to use its ___________ and how we must make rational decisions in order to move toward a higher standard of living for all.
Business
1 answer:
maria [59]3 years ago
3 0

Answer:

Scarce resources.

Explanation:

A major reason for studying Economics is to gain an understanding of how a nation can best choose to use its scarce resources and how we must make rational decisions in order to move toward a higher standard of living for all. Some of these scarce resources include money, time, land, labor, capital and entrepreneurship. If these resources are not well managed, it usually results in an economic downturn, recession and inflation which are typically a negative factor for good standards of living for the people living in the particular country.

Hence, a proper allocation of scarce resources would improve the standards of living in a country.

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Consider two points on the PPF: point A, at which there are 50 apples and 40 pears, and point B, at which there are 46 apples an
Fittoniya [83]

Answer:

4 apples

Explanation:

Given that

Point A = 50 apples and 40 pears

Point B = 46 apples and 41 pears

These points are located on the PPF at which various combinations of products are displayed by available resources and technologies.  

So, the opportunity cost of moving from Point A to Point B would be 4 apples which is shown below:

= Point A apples - Point B apples

= 50 apples - 46 apples

= 4 apples  

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Is the coffee market growing or shrinking and why
svetoff [14.1K]

In conclusion, the coffee market is currently experiencing considerable growth in economies around the world, with the rise in urbanization and the demand for quick, quality product fueling the expansion. The market is expected to continue to inflate in the next five years, leaving ample room for returns and profit
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Answer:

The correct answer is C

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