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Flora and fana are examples of resources.
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- Opportunity costs arise due toa. resource scarcity.b. lack of alternatives.c. limited wants.d. abundance of resources.Scarcity impacts opportunity costs because most resources are limited. Which of the following resources is not considered scarce? trash clean air oil fresh waterWhat is a scenario that demonstrates the concepts of scarcity, choice, and opportunity cost in the utilization of economic resources.
- True or False Opportunity costs are roughly the same for everyone who attends college.Shield deodorant and Gucci Perfume are products that satisfy Physiological needs. True False Which of the following is NOT regarded as one of the 4 Limited resources? Coal Builders Heavy machinery Stationary An economic system is chosen to achieve the highest possible satisfaction of needs using scarce resources. True False The challenge of how to achieve the highest possible satisfaction of needs using scarce resources is also called the Economic Problem. True False PLEASE ASSISTefficient production can be carried out anyway on or below the production possibilities frontier. true false
- Most economists believe the scarcity of resources will persist. Why?True/False # According to economists, people will do a particular activity only if the benefits are greater than the costsEnumerate economic resources in the country considered as scarce, and suggest measures to resolve the problem of scarcity.
- According to Ecological Economists "it is fallacious for a number of influential Economists, most notably Edward Denison and George Perry, to minimize the role of energy in production and indicated that the role of energy is primary, coequal with capital formation". Examine the economic basis for this argument.Economics is the study of the allocation of the abundant resources in a country. True FalseEvaluate the following statement using economic analysis to back up your reasoning: "Mandating the use of ethanol in the production of gasoline helps the poor".
