Economics is often defined as the study of the allocation of scarce resources among competing ends. Scarcity

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

Question:

Economics is often defined as “the study of the allocation of scarce resources among competing ends.” Scarcity is in this case refers to ________, and human wants are assumed to be ________.

a. jobs for the labor force – limited

b. jobs for the labor force -- unlimited

c. resources used to produce goods -- limited

d. resources used to produce goods -- unlimited

Related Book For answer-question

Organizational Behavior Managing People and Organizations

ISBN: 978-1133626695

10th Edition

Authors: Ricky W. Griffin and Gregory Moorhead

See More Books

Posted Date: Nov 29, 2018 01:16 AM

See More Questions

Psychology has been defined as the study of individual behavior. Organizational psychology is the study of individual behavior in organizations. Many of the theories described in the early chapters...
Multiple Choice Questions 1. Economics is best defined as the study of a. How society manages its scarce resources. b. How to run a business most profitably. c. How to predict inflation,...
Chronic pain is often defined as pain that occurs constantly and flares up frequently, is not caused by cancer, and is experienced at least once a month for a 1- year period of time. Many articles...
Recognition accuracy that measures the percentage of orders that are taken correctly is 86.8%. Suppose that you place order with the bot and two friends of yours independently place orders with the...
T: R3 R3 is the orthogonal projection on the x,y-plane; B and B² are as in Exercise 4. Find the matrix of T with respect to the basis B, and use Theorem 8.5.2 to compute the matrix of T with...
Judy died and was survived by her husband, Jason, who received the following interests as a result of his wifes death. Does Judys estate receive a marital deduction for them? Explain. a. $400,000 of...
Water flows through the orifice meter shown in Fig. P8.122 at a rate of $0.10 \mathrm{cfs}$. If $d=0.1 \mathrm{ft}$, determine the value of $h$ and the pressure difference associated with this...
The Wear ever Shoe Company is going to open a new branch at a mall, and company managers are attempting to determine how many salespeople to hire. Based on an analysis of mall traffic, the company...
1 Explain what leadership is, when leaders are effective and ineffective, and the sources of power that enable managers to be effective leaders. LO10-2 Identify the traits that show the strongest...
On July 1, 2019, North Inc., based in Alberta, ordered merchandise from an American supplier for US$600,000. Delivery was scheduled for the month of October, with payment to be made in full on...
With reference to the Auditors Report, answer the following questions: The recent final audit report of an FMCG carries a line which is read as in the manner so required and respectively give a true...
Q1. One of the air puck of 15m, kg mass is moving to the right with a speed of 8v, m/s. The other air puck Two air puck is moving along x-axis on an air hockey table, which is frictionless and...
LIFO Liquidation Profit Hammond Company adopted LIFO when it was formed on January 1, 2017. Since then, the company has had the following purchases and sales of its single inventory item: Year Units...
Complete the following calculations for the financial years 2017, 2018, and 2019. Net Profit Margin: Inventory Turnover ROE ROA Debt to equity. EXHIBIT 2 Selected Financial Data for Tesla, Inc.,...
Finnish Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead based on machine hours. Selected data for costs incurred for Job 532 are...
1) The James Webb Space Telescope (JWST), launched in 2021, is a giant infrared space telescope. If you have not taken a look, the images it captures are stunning! Like the Hubble Space Telescope,...
A monopoly producing a chip at a marginal cost of $4 per unit faces a demand elasticity of -3. Which price should it charge to optimize its profits?
The Cholesterol Level data sets give cholesterol levels of heart attack patients. Cholesterol measures are taken 2, 4, and 14 days aft er a patient has suffered a heart attack. Is there a significant...
Describe how you would have dealt with the father if you were the one, he approached about the bill. Think about methods you could deploy to justify the charges to the father.
Some have argued that people, not organizations, make decisions and that the study of organizational decision making therefore is pointless. Do you agree with this argument? Why or why not?
How is the performance of your instructor measured? What are the limitations of this method?
Do you agree that a certain degree of stress is necessary to induce high energy and motivation?
Jason Vu offers tutoring services to first-year university students. He has set up a sole proprietorship business named JV Tutoring. Jason has collected the following information relating to his...
Finesse Fitness was established on 1 April 2024 with an initial investment of $60000 by the owner, Daniel Hewitt. During the first few months of business, the owner employed a student studying...
Yamindi was raised on a farm in the Northern Territory and loves animals. When he finished secondary school, Yamindi had nearly $$5000$ in a savings account. He used his savings to start a business...

Economics is often defined as the study of the allocation of scarce resources among competing ends. Scarcity

Question:

Expert Answer:

d resources used to produ... View the full answer

Organizational Behavior Managing People and Organizations

Students also viewed these economics questions