Because resources are limited and demands are unlimited, societies and individuals must make choices about what to produce and what to consume. This economic concept is..

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Answer 1
Answer:

Answer:

Scarcity

Explanation:

Scarcity as it is widely known connote an event or situation in which unlimited wants is more than the the limited resources available to meet the demands or fulfill those wants. It is also known to be the common economic problem of having unlimited wants, but limited resources to meet those wants.

Resources needed by man most importantly are little or limited in their supply. Human wants are those things that humans needs and they are unlimited in nature. Due to the scarcity of Resources are scarce, humans have tomake choices and drop out some of their wants to be able to fulfill the much needed one.


Related Questions

A researcher gathers data on life in Great Britain during the Industrial Revolution. He discovers that during the 1820s and 1830s the number of children born to married couples in Great Britain rose rapidly. This researcher's data could help him determine which of the following types of information about Great Britain during the Industrial Revolution? A.Its Pasteur rate B.Its mortality rate C.Its emigration rate D.Its fertility rate
Some critics say that by promoting separatism, Afrocentrism is, in effect, promoting racism. a. True b. False
In terms of mercantilism, what is protectionism?a. a political policy that states that a nation should take over foreign ports by force if necessary to insure healthy trading relations b. an economic policy in which a nation spends a great deal of money on its navy in order to defend it merchant ships c. a trade policy that involves undercutting the prices of other an nation's goods at all costs d. a trade policy the encourages exports while discouraging imports, mainly through tariffs
This exclave of Armenia is 75 percent Armenian, but is located within Muslim Azerbaijan.a. Georgia b. Chechnya c. Abkhazia d. Nagorno-Karabakh E.Kurdistan
According to the law of supply, price and quantity move

Blank the road ahead and the intersection where you will be turning well in advance of the maneuver

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I believe the answer is: Search

If you do a manuever in a sudden manner, you could caught the drivers behind you off guard and resulting in a collision. Because of this, you need to seek the intersection in advance and slowly move your vehicle toward the direction of the intersection in order to avoid such things.

What is a secret vote

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Answer:

Secretvoteisaa ballot in which votes are cast in secret.

Explanation:

hey mate hope it helped you

Answer:

The secret ballot, also known as the Australian ballot or Massachusetts ballot, is a voting method in which a voter's choices in an election or a referendum are anonymous. ... The most basic form of a secret ballot utilizes blank pieces of paper upon which each voter writes his or her choice.

Sandra is a nine-year-old girl. She was always the last student in class to finish assignments because she could only write slowly, and even then, her writing would be virtually illegible and riddled with spelling mistakes. Her teacher referred her to a psychologist who diagnosed her with a learning disability called ________

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The correct answer is Dysgraphia

Dysgraphia is a writing disorder where the child has difficulty writing letters and numbers. In Motor Dysgraphy, the child when performing the writing, finds difficulty in tracing fine motor coordination, even dominating reading and speaking.

What effect does the lack of competition in command economies have? 1.very high prices
2.very low prices
3.very high quality products
4.very low quality products

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1. Typically you would have higher prices because if you don't have to compete with another person to sell more product you can have the price super high and as the only person selling you can sell for as much as you want
the lack of competition would make prices rise and if there's no competition there's no need to have good products

Please help me with this

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Answer:

The oil prices and economic inefficiency.

The fall of communism.

Poor economic performance and growing nationalism.

Explanation:

Hope this helps.

Answer:

The answer is Perestroika and Glasnost.

Mikhail Gorbachev, the last leader of the Soviet Union, came to power in 1985 with a vision of reform. His plan for the future was led by two ideas: perestroika and glasnost.

Gorbachev's reforms did more to hasten the fall of the Soviet Union than they did to save it.

Explanation:

from proir knowledge and one internet search

hope this helps too :)

What term is used to describe when economic growth is at its highest point?

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Answer: The term used to describe when economic growth is at its highest point is "economic boom" or "economic peak”


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