Select the items that describe the results of scarcity.There are not enough goods and services to meet everyone's wants.
There are too many resources for producers to use.
Using resources today means having fewer of them in the future.
Answers
The answer is: There are not enough goods and services to meet everyone's wants
Scarcity occurs when the amount of resources that exist in a certain area are not enough to fulfill the needs of all people in that area.
When there is less resources, there would be less materials that can be used to produce goods and services. This would lead to the increase in product's price and high number of unemployment.
Final answer:
Scarcity arises when there aren't enough goods and services to satisfy wants, leading to economic decisions about distribution and consumption. An abundance of resources doesn't represent scarcity. Consuming scarce resources now suggests fewer available resources in the future.
Explanation:
The concept of scarcity is important in the study of economics. Scarcity arises when there are not enough goods and services to satisfy everyone's wants, which is the first item in your question. This imbalance between wants and available resources leads to economic decisions about production, distribution, and consumption.
The second item you listed does not correctly represent the consequences of scarcity. Scarcity indicates a deficiency of resources, not an abundance, so there wouldn't be too many resources for producers to use.
The last item talks about the consequences of resource consumption. When scarce resources are consumed today, it implies that there will be fewer of these resources available in the future. This concept goes hand in hand with the idea of opportunity cost, which is the cost of forfeiting the next best alternative whenever a decision is made.
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Answer:
Mulch next to wood siding may lead to wood rot.
Explanation:
Based on the scenario being described within the question it can be said that Maura was noting this as a concern because Mulch next to wood siding may lead to wood rot. This mulch can hold moisture for extended periods of time which may cause the wood to rot. Once the wood rots it is too late and must be replaced which depending on the location of the wood can be extremely expensive.
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Answer: Commercialization
Explanation:
The commercialization stage is the process in which the various types of new products and the services are developed in the market.
In the commercialization stage the new products are get launched and also promoted for increase the demand of the new products and services in the market.
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Answer:
EV = $-0.125
For one game, the outcome cannot be predicted, even though you are more likely to lose money.
For 100 games, you are expected to lose about $12.50
Explanation:
Expected value is the sum of the product of all possible outcomes by their payouts. In this case, there are only 2 possible outcomes. You either win by tossing 3 three heads with three coins or lose.
The probability of winning (P(w)) is:
Therefore, the probability of losing (P(l)) is:
The expected value (EV) for the game is:
For one game, the outcome cannot be predicted, even though you are more likely to lose money than win. As for 100 games, since the expected value is negative, you are expected to lose money (about $12.50).
Final answer:
The expected value of the game, where you win $6 if you get three heads on three coin tosses and lose $1 otherwise, is -$0.62. This indicates that you will lose, on average, about 62 cents per game, making it an unwise game to play if the aim is to win money.
Explanation:
The subject of this question is the expected value concept in mathematics, specifically in probability theory. To calculate the expected value of the game, you need to multiply the probability of winning by the amount won and subtract the product of the losing probability and the amount lost. In this case, you are given 6 to 1 odds against tossing three heads with three coins, meaning you win $6 if you succeed and you lose $1 if you fail.
The possible outcomes when tossing three coins are: 3 heads, 2 heads-1 tail, 1 head-2 tails, or 3 tails. Each of these outcomes has an equal probability of 1/8 or 0.125 because there are 8 possible outcomes. The only way to win the game is to get 3 heads, so the probability of winning is 0.125 and the probability of losing is 1 - 0.125 = 0.875.
To calculate the expected value, multiply the probability and the respective payoff (gain or loss). Therefore it is: Expected Value = (0.125) * ($6) - (0.875) * ($1) = -$0.62. This means that on average, you'll lose about 62 cents per game, so it would not be a good idea to play this game if the goal is to make money.
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d.
"I would prefer to walk out of the deal in the end with something to show for the money I put in."
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in Job enlargement, employers typically increase the number of tasks and responsibilities. This will make the position more Challenging and usually resulted in higher wage and reward