54 661
Assignments Done
98,2%
Successfully Done
In November 2017
Your physics homework can be a real challenge, and the due date can be really close — feel free to use our assistance and get the desired result.
Be sure that math assignments completed by our experts will be error-free and done according to your instructions specified in the submitted order form.
Our experts will gladly share their knowledge and help you with programming homework. Keep up with the world’s newest programming trends.

Answer on Economics of Enterprise Question for Jasmine

Question #12248
How does the study of economics depend on the phenomenon of scarcity?
Expert's answer
Economics explains how people make choices under the conditions of scarcity. Scarcity just
means limited, the easiest way to know if something is scarce is whether or not
is has a price. if it has a price, even if you aren't the one who has to pay it,
then it is scarce. Economics is all about understanding why people would choose
one scarce thing over another scarce thing (why would you pay to have someone
maintain your lawn and change the oil in your car, money is a scarce resource
and you must choose how to spend your money). So economics is the study of how
society manages its scarce resources therefore, the study of economics is only
important because of the scarcity of resources

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question