![jennypenny123](/avatars/32302.jpg)
jennypenny123
29.01.2020 •
History
Write a 2-3 paragraph essay discussing the nature of scarcity and its relationship with opportunity cost.
Solved
Show answers
More tips
- O Other What happens if you get scared half to death twice?...
- H Horoscopes, Magic, Divination Where Did Tarot Cards Come From?...
- S Style and Beauty How to Make Your Lips Fuller? Ideas and Tips for Beautiful Lips...
- S Style and Beauty How are artificial nails removed?...
- F Family and Home How to Sew Curtain Tapes: Best Tips from Professionals...
- H Horoscopes, Magic, Divination How to Cast a Love Spell on a Guy? Guide for Guys...
- F Family and Home How to Properly Use a Water Level?...
- L Legal consultation What Documents Are Required for a Russian Passport?...
- H Health and Medicine How to Treat Styes: Causes, Symptoms, and Home Remedies...
- F Family and Home Protect Your Home or Apartment from Pesky Ants...
Answers on questions: History
- H History Match each government action to the level of government that holds the power to carry it out. drag the items on the left to the correct location on the right....
- H History Which of the following were famous athletes in the 1920s? Choose the TWO correct answers. Sinclair Lewis Gertrude Ederle Babe Ruth um Zora Neale Hurston...
- H History Hich statement about South American patriot José de San Martín is true? He was named president for life by the Peruvian people for his efforts to liberate them. He led an army...
- H History )I will mark brainliest to whoever helps me) this is my last slide and it counts for marks so please read it then answer!:)...
- H History What was the “American Dream” in the 1950’s? Give examples of values, home/family life, and work....
- H History What helped George Washington during his first term as the first president of the United States?...
- H History Please help i ask this question 5 time sill give you brainliest please...
- H History Write an essay of at least 300 words on the topic What Makes a Good Christian? Brainstorm as many ideas as you can. Hint: you should have eight or ten ideas listed. Some of these...
- H History Which population is unable to read? indians whites dutch reformed hindustani...
- B Biology Which type of cells do scientists believe went on to produce energy in the form of atp?...
Ответ:
Scarcity is the central concept in the study of economics. Individuals demand products to satisfy their needs. Those products are elaborated using certain resources that are scarce hence, limited. Therefore, economics is the science that studies the allocation of products for consumer satisfaction given that the supply of resources is scarce.
The opportunity cost is defined as the cost of the best alternative that has been rejected when making a decision in an environment of scarcity. For example, considering that money is the scarce resource, a consumer can only afford to either buy one orange or two pears. He knows that the orange would provide a higher satisfaction to him and buys it. Therefore, the rejected alternative, the two pears, consitute the opportunity cost. If there was no scarcity, this consumer would have been able to purchase the two options, not only the most preferred.
Ответ:
Explanation:
What was the turning point in American History that led to the drafting of the US Constitution?