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What Economists say that choices involves comparing?

Anonymous

∙ 11y ago

Updated: 4/28/2022

Marginal benefits and marginal costs

Wiki User

∙ 11y ago

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Continue Learning about Economics

Why economists say competitive markets are efficient?

Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.

Why do all economists say all resources are scarce?

why are ecomics scarce?

When a nation exports more than it imports economists say it has?

Its known as a trade surplus

When a nation imports more than it exports economists say it has what?

Its known as a trade surplus

Why do economists say that all resources are scarce and how does this concept impact economic decision-making?

Economists say that all resources are scarce because there is a limited supply of resources compared to the unlimited wants and needs of society. This scarcity forces individuals, businesses, and governments to make choices about how to allocate resources efficiently. The concept of scarcity impacts economic decision-making by requiring individuals and organizations to prioritize their needs and make trade-offs in order to maximize their utility or profit.

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Related Questions

When economists say that people act rationally in their self interest they mean that individuals what?

When economists say that people act rationally in their self interest they mean that

Why economists say competitive markets are efficient?

Economists say that competitive markets are efficient because when there is competition prices are lower. The more available an item, the less it will cost the consumer.

Why do all economists say all resources are scarce?

why are ecomics scarce?

Why do economists say that all resources are scarce and how does this concept impact economic decision-making?

Economists say that all resources are scarce because there is a limited supply of resources compared to the unlimited wants and needs of society. This scarcity forces individuals, businesses, and governments to make choices about how to allocate resources efficiently. The concept of scarcity impacts economic decision-making by requiring individuals and organizations to prioritize their needs and make trade-offs in order to maximize their utility or profit.

How do you say choices in Portuguese?

"choices" means "escolhas" in portuguese.

When a nation imports more than it exports economists say it has a?

Its known as a trade surplus

When a nation exports more than it imports economists say it has .?

Its known as a trade surplus

When a nation imports more than it exports economists say it has what?

Its known as a trade surplus

When a nation exports more than it imports economists say it has?

Its known as a trade surplus

What are you comparing when you say heavier or lighter?

weights

Why some economist say economics is useless?

economics is useless because it is based on assumptions made by economists............

Is it correct to say 'the lesser of this and that'?

Yes, it certainly is correct. eg 4 is the lesser of 4 and 6 ---- It does depend on what you mean. "Lesser" involves only two choices; if you have more than two, it's "least."

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