Answer:
The correct answer is letter "B": resources are limited and therefore cannot satisfy one's many competing wants.
Explanation:
Scarcity is the main problem in economic by which people have unlimited needs but finite resources to satisfy them. As a result, individuals must make tradeoffs to sacrifice part of the satisfaction of a need, to satisfy part of another need. Scarcity pushes people to make rational decisions to maximize their returns.
Answer:
Demand is more elastic in the long run than it is in the short run
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is more elastic in the long run than it is in the short run because in the long run consumers have more time to search for suitable substitutes.
When the absolute value of elasticity of demand is less than one, demand is inelastic.
When the absolute value of elasticity of demand is equal to one, demand is unitary.
When the absolute value of elasticity of demand is greater than one, demand is elastic.
Demand is less elastic the smaller the percentage of the consumer's budget the item takes up.
The elasticity of demand for a specific brand of good doesn't translate into the elasticity of demand for the good.
I hope my answer helps you
The actual correct answer is A railroads
If his starting balance is the $225.91
then his balance would be
-131.71
A reflex response to the passage of electric current through the human body and results when electric current enters the body at one point and leaves through another.
