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  • Card 6 / 17:
    What is scarcity? Can you think of two causes of scarcity?

    Scarcity means human wants for goods and services exceed the available supply. Supply is limited because resources are limited. Demand, however, is virtually unlimited. Whatever the supply, it seems human nature to want more.

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Questions & Answers

what is elasticity
what is the Gist of Harrold-Domar growth theory?
Tikachandra Reply
The Harrod Domar Model is basically stressing the importance of savings and investments as key determinants of growth.
is the difference BTW monetary value of nation export and import over a certain period.
Gilbert Reply
Please what is the meaning of spending on Net Export?
what's the example of price floor
Sane Reply
what is taxes
Munsif Reply
calculation of GDP and GNP
Mahmudul Reply
what cause inflation to occur?
bijay Reply
Simply when Aggregate Demand is greater tham Aggregate Supply. There are two types of inflation: Cost push Inflation Demand pull Inflation
inflation mean when general price of aggregate supply is higher aggregate demand
Inflation is a situation when there is too much money in circulation and too few goods Causes Demand pull - when there is too much money with the ppl d demand for products increases which leads to a situation where demand is more then supply thus increases​ the price of commodity
What is the macroeconomic growth?
Toma Reply
In goods market investment=savings. AD=AS is market equilibrium condition
Preety Reply
in goods market when aggregate deman equals aggregate supply(AD=AS)...equilibrium is established..
Hari Reply
what is the formula of market euilibrium?
Sandra Reply
what is process ?
July Reply
types of account?
Lamin Reply
how to calculate nominal growth
Jarvis Reply

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