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densk [106]
3 years ago
9

Factor substitution possibilities render the problem of resource scarcity to be

Business
1 answer:
ozzi3 years ago
5 0

Factor substitution possibilities render the problem of resource scarcity to be manageable, but not necessarily irrelevant. Therefore, it's<u> logically correct.</u>

Factor substitution simply means when one variable factor is substituted for another. Resource scarcity occurs when resource demand is more than the supply of resources.

The problem of scarcity is dependent on the demand and supply function. Therefore, an increase in the price of a resource will lead to scarcity. Factor substitution possibilities render the problem of resource scarcity to be manageable. In this case, one input can be substituted for another.

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Answer:

The answer is: D) Utilitarian approach

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Mr. Chen is not standing up for his employees because they are good employees and good human beings that deserve to be treated and protected equally. He is using the utilitarian approach since he favors the action that he believes will provide the most good and do the least harm. He is afraid that if his customers find out that the store did something "wrong", they would get angry and stop buying there. So he acts to prevent the greatest possible wrong, which would be losing customers.

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Answer:

Established Name Brand - S - Brings in more customers

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