If resources are scarce and if people are always wanting more than the economy can provide, how

Question:

If resources are scarce and if people are always wanting more than the economy can provide, how is it possible that we would have unemployment?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Economics Theory And Practice

ISBN: 9781118949733

11th Edition

Authors: Patrick J. Welch, Gerry F. Welch

See More Books

Question Posted: Feb 06, 2024 11:11 AM

See More Questions

Investigate the challenges and solutions associated with managing I/O devices in a multitasking operating system, including topics such as device drivers, interrupt handling, DMA (Direct Memory...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Read the following article and answer the questions below: Building Competitive Advantage Through People Magazine: Winter 2002Research Feature January 15, 2002 Reading Time: 23 min Christopher A....
Which of the following statements about Visa credit card sales is incorrect? (a) The credit card issuer makes the credit investigation of the customer. (b) The retailer is not involved in the...
For the same steam power plant as shown in Fig. P6.99 and Problem 6.99, assume the cooling water comes from a lake at 15C and is returned at 25C. Determine the rate of heat transfer in the condenser...
How can companies use the 4Ps to strengthen their position in an international market?
What recommendations would you make to improve these laws? LO.1
1. Why would a $500,000 salary cap prompt personnel to leave for other banks? 2. Was the stripping of Lewiss chairmanship a significant move on the part of BoA shareholders? 3. How could John Thain...
E2-9 (Static) Analyzing the Effects of Transactions in T-Accounts LO 2-4 (The following information applies to the questions displayed below.) Griffin Service Company, Inc., was organized by Bennett...
What are the definition of and the root of the study of economics? How does a combination of scarce resources and unlimited wants force people to make economic decisions? How are value judgments and...
What are the primary factors responsible for economic growth? How are they related?
There are various duties that are completed by customer service managers. One of these responsibilities is the SWOT analysis (which is one of the most popular types of analysis tools) to determine...
Question: 9. Purchases and sales during a recent period for Bottineau Inc. were Purchases During the Period Sales During the Period 1st purchase 1,500 units x $ 4 1st sale 700 units x $13 2nd...
# The following is a partial relative frequency distribution of consumer preferences for four products-A, B, C, and D. Required: Determine the relative frequency for Product B: Relative Frequency...
Domino Company's operating percentages were as follows: Revenues 100% Cost of goods sold Variable 50% Fixed 10% 60% Gross profit 40% Other operating expenses Variable 20% Fixed 15% 35% Operating...
Marcus Stewart, the production manager at Galvin Company, purchased a cutting machine for the company last year. Six months after the purchase of the cutting machine, Stewart learned about a new...
The TechTeach Company produces and sells 7,000 modular computer desks per year at a selling price of $750 each. Its current production equipment, purchased for $1,950,000 and with a 5-year useful...
Hoffman Plastics fired Jose Castro because he was supporting the efforts of union organizers. During NLRB hearings concerning his termination, Castro revealed for the first time that he was in the...
Which one of the following anhydrous chloride is not obtained on direct heating of its hydrated chloride? (A) BaCl2 (B) CaClz (C) MgCl2 (D) SrCl2
Are seasonal discounts appropriate in agricultural businesses (which are certainly seasonal)?
What are the effective annual interest rates for the following cash discount terms: ( a ) 1/10, net 20; ( b ) 1/5, net 10; and ( c ) net 25?
Why would a manufacturer offer a rebate instead of lowering the suggested list price?
Series of Compound Interest Techniques The following are several situations involving compound interest. Required: Using the appropriate table, solve each of the following: ( Click here to access the...
If Clark Kelly has recognized gain on an exchange of like-kind property held for investment use, where does Clark report the gain? First on Form 8824, then carried to Schedule D. First on Form 8824,...
An investor put 40% of her money in Stock A and 60% in Stock B. Stock A has a beta of 1.2 and Stock B has a beta of 1.6. If the risk-free rate is 5% and the expected return on the market is 12%,...

If resources are scarce and if people are always wanting more than the economy can provide, how

Question:

Step by Step Answer:

Unemployment can occur when the demand for a particular product dec...View the full answer

Economics Theory And Practice

Students also viewed these Business questions