Scarcity Flashcards

1
Q

What are the benefits of a big economy?

A

More labor, force, and greater demand needs to higner production income and employmenf

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are some of the factors to consider in measuring the nations human wealth?

A

Age, healthy nutrition, and training and education

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the benefits of a small economy?

A

Last depletion of natural resources, lesser demand for goods and services easier to organize

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What is the difference between scarcity and shortage?

A

Scarcity is limited resources, always existing
Shortage is quantity demanded is more than the quantity supplied. It’s about products and supplies temporary imbalamce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How do you fix Carson City?

A

Proper distribution an allocation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How do you fix shortage?

A

Adjustment in price supply and demand

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is the efficacy and its goal? 

A

Being effective, get results

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What does efficiency and it’s goal

A

Being efficient get results with less 

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The next best alternative you use a resource
What do you lost because you didn’t choose it 

A

Opportunity coause

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Production possibility, frontier concepts

A

Concept of choice, concept of constraints, concept of opportunity cost

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Malthusian theory of population

A

Population grows faster than food supply

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Who said Malthusian theory of population?

A

Thomas Malthus

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

How to correct the population

A

Positive or natural, which is earthquakes pandemic, why are famine. Preventive which is late marriages, celebrity and family planning. 

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are the three indicators of scarcity?

A

Natural capital human

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Signs ofnatural dcarcity

A

inadeduate land, depletion of non-renewable resourees, poverty and hunger

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Signs of capital scarcity

A

dependence on imported capital goods, limited availablity of machienes and equipment

17
Q

Signs of human scarcity

A

high iabor force, few job opportunities (vice verca), high labor force, but lack in knowledge