Q: Use your own example to explain the reason why, in the real world, business firms and societies face…
A: Opportunity cost is calculated as what is sacrificed divided by what is gained. The law of…
Q: Contrast how a market system and a command economy try to cope with economic scarcity.
A: In market system there is private holding of assets & coordinates the activity of economy…
Q: A point inside a production possibilities frontier?
A: Production Possibility Frontier: It refers to the graphical representation of various possible…
Q: Doctrow uses the following terms to describe; Someone who puts capital into production and…
A: Production: It is a cycle of consolidating different material information sources and unimportant…
Q: What is the impact or effect of values, attitudes and beliefs on technological advancement?
A: Technology is defined as the accumulated knowledge and application of techniques, skills, methods,…
Q: Can you explain how economic systems shape and influence ideologies?
A: Economic system may be planned or unplanned.
Q: List and discuss in detail (thoroughly and carefully), two examples of the scarcity that you have…
A: When there is the presence of resources being fewer than actually being required for the fulfillment…
Q: where
A: Resource implies to all the materials accessible in our environment which are technologically…
Q: Do you see the rise of consumer power through evolving changes in technology? If so, how?
A: Technology is all that make things quicker, easier or cheaper. The rise in the technology leads to a…
Q: What is the main difference between free-market systems and planned systems?
A: A market is a gathering area where people can come together to exchange products and services.…
Q: What will happen if there is no scarcity? Explain.
A: Scarcity is the basic problem of economic and it refers to the gap between the scarce – resources…
Q: What thing is considered as an integral part of the capitalistic economy? One word
A: According to the given question Actually the capitalistic economy is also known by the other name…
Q: Use a production possibilities frontier to describe the idea of "efficiency"?
A: Production is efficient if it is produced at production possibility curve.
Q: Write about some of the non-obvious or surprising connections or phenomena of how digital culture…
A: A digital culture is a term that outlines how technology and the internet are influencing our human…
Q: What is the role of science and technology in our society?
A: The essence of how science and technology contributes to society is that the creation of recent…
Q: What are the three categories of paradigms?
A: A paradigm is a comprehensive belief system, world view or framework that guides research and…
Q: Can you think of other situations where scarcity might affect the stability of a company?
A: As a good is produced, different costs are incurred by a firm and process of business follow ups.…
Q: What role do these entrepreneurial competencies play in the success of the entrepreneur as well as…
A: The person who tends to start a business and is also willing to risk loss for making more money is…
Q: What is the impact of technology and innovation on scarcity?
A: Economics is the study of distribution, allocation and production of resources. It deals with the…
Q: According to Adam Smith’s The Wealth of Nations, when it comes to government oversight in the free…
A: Q1. Does the government play important role in encouraging business to behave in an ethical manner?…
Q: How does wants and needs connect to Scarcity
A: Scarcity refers to the limited resources. This is the basic problem of an economy. All the economies…
Q: What type of "Scarcity" in your daily life do you face? Briefly describe.
A: Scarcity is the situation where the resources are being short and limited to use for the people.
Q: How does competition arise out of scarcity?
A: The problem of scarcity is inherent in every economy because resources are limited in every economy…
Q: What is the meaning of the statement "Technology doesn't just get adopted because it works. It gets…
A: In a market, technology is one of the economic drivers that contribute to improving economic growth…
Q: Define common resources?
A: Common resources can be understood as any scarce resource that provides tangible benefits but nobody…
Q: how is technopreneurship different from Entrepreneurship?
A: Entrepreneurship refers to the act of being an entrepreneur, who is the owner and manager of a…
Q: How do the reward system and organization cultureaffect innovation in organizations?
A: Innovative organizations appear to have cultures which are closely related. They promote creative…
Q: why Technical Writing is synonymous with effective communication
A: Technical writer is a professional information communicator whose job is to communicate information…
Q: Name any two (2) literacies (news, media, information, technology) that are most helpful in…
A: In media literature, People get the text by means of a media transporter like a paper or magazine,…
Q: What is an example of how the real (physical) and digital (virtual) worlds are converging?
A: The proliferation of interconnected Smartphone, tablet computers, sensors, special identification…
Q: Scarcity
A: Scarcity is one of the problem faced by all economy.
Q: Have new technologies helped you in any significant way, and if so, how? On balance, do you see new…
A: Both my academic and professional lives have benefited greatly from new technologies. My viewpoint…
Q: How is having quality education a necessity in either creating a sustainable city or in living in a…
A: In an economy, education is considered as one of the drivers of economic and social development as…
Q: When do we use Opportunity-Cost Approach?
A: The opportunity - cost approach helps to determine the second best alternative available or an…
Q: Why do you think technology is important in your studies?
A: Answer to the question is as follows:
Q: Historically, how have the three sectors evolved?
A: The economic structure of developed countries has followed a basic pattern of development throughout…
Q: What are the key takeaways from Shumpeters’s economic change on the creative destruction…
A: Creative destruction is the demolition of long-standing practices to make way for innovation, and it…
Q: What is Economic community?
A: Economic community: When countries around the world are regional ones or in a certain cluster form…
Q: What are the key features of a social enterprise?
A: ‘Enterprise’ refers to a project or undertaking, which is difficult, complicated or risky. It is a…
Q: How are the natural and technological environments linked?
A: Natural environment includes all the living and non-living things that are occurring naturally.…
Q: following
A: Scarcity refers to the basic problem being economic in nature which is basically limitless wants and…
How do design, creativity, and innovation connect in our current environment?
Trending now
This is a popular solution!
Step by step
Solved in 1 steps
- How are the natural and technological environments linked?A mattress company can create mattresses to sell in retail stores/online or utilize the same material to create protective masks during the pandemic. With respect to scarcity and opportunity cost, how might a company decide which product to make and what are some methods that it may use to help its decision?in your own words , summarize the relationship of science and technology, social , cultural, political economy aspect in human society
- Lately, a lot of people are buying iPhone 12. Which trend is it in entrepreneurial scope? Select one: a. Economic Forces b. Political Changes c. Technological Changes d. Social ForcesCan you think of other situations where scarcity might affect the stability of a company?Have new technologies helped you in any significant way, and if so, how? On balance, do you see new technologies as a benefit or a threat to society? Explai
- What makes applied economic as an instrument and decision-making of an individual and governmentName any two (2) literacies (news, media, information, technology) that are most helpful in performing "sharing insights about an issue" and explain why.Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. What motivated the producers of those individual products to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? Who decides whether these particular hardware products should continue to be produced and offered for sale?