Scarcity Flashcards
What are the benefits of a big economy?
More labor, force, and greater demand needs to higner production income and employmenf
What are some of the factors to consider in measuring the nations human wealth?
Age, healthy nutrition, and training and education
What are the benefits of a small economy?
Last depletion of natural resources, lesser demand for goods and services easier to organize
What is the difference between scarcity and shortage?
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 do you fix Carson City?
Proper distribution an allocation
How do you fix shortage?
Adjustment in price supply and demand
What is the efficacy and its goal? 
Being effective, get results
What does efficiency and it’s goal
Being efficient get results with less 
The next best alternative you use a resource
What do you lost because you didn’t choose it 
Opportunity coause
Production possibility, frontier concepts
Concept of choice, concept of constraints, concept of opportunity cost
Malthusian theory of population
Population grows faster than food supply
Who said Malthusian theory of population?
Thomas Malthus
How to correct the population
Positive or natural, which is earthquakes pandemic, why are famine. Preventive which is late marriages, celebrity and family planning. 
What are the three indicators of scarcity?
Natural capital human
Signs ofnatural dcarcity
inadeduate land, depletion of non-renewable resourees, poverty and hunger
