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yawa3891 [41]
3 years ago
8

Can you point out some differenced between welfare definition and scarcity and choice

Business
1 answer:
Llana [10]3 years ago
5 0

Scarcity means limitation of the availability of resources in relation to their wants. That means the available resources are not enough to completely satisfy all the wants.

By now, you must have already learnt that human beings have unlimited wants. And as the resources with which these wants must be satisfied are limited, we can understand that ‘scarcity’ is the central economic problem of everyone including individuals, firms and the government, and even the whole world.

Welfare economics focuses on the optimal allocation of resources and goods and how the allocation of these resources affects social welfare. This relates directly to the study of income distribution and how it affects the common good. Welfare economics is a subjective study that may assign units of welfare or utility to create models that measure the improvements to individuals based on their personal scales



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Answer: An operational executor

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On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct
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Answer:

$200,000

Explanation:

The computation of the net revenue is shown below:

= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable  

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3 years ago
Lorenzo is self employed with an s corporation. he is unmarried and had a net profit for the tax year. what are the tax ramifica
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3 years ago
Which would be an example of sustainable development? a. Current use of fossil fuels in the U.S. b. Heap-leach extraction of gol
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Answer:

The correct answer is letter "D": Development of brownfields in urban areas.

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3 years ago
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The first thing that Taylor should do is to analyze the bad news so that he can predict the likely effect on the client.

Once he predicts this, he can be able to deliver the bad news in such a way that the client would not be too annoyed by it. It would also allow him to offer alternatives that might be applicable and doable to the client.

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