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Without economics you could satisfy your needs like food, water, clothing and shelter only. But the enormous demand created by every individual today is the soul existence of economics. If these wants were never created in history then economics would not have played a major role. With the evolution of mankind, certain intellectual guys practiced the 'guy with the hammer syndrome'. They brought into existence(with good intentions) a methodology to bridge the gap between scarcity(supply) and requirement(demand) in the most efficient manner. They had the hammer and thus shaped the thinking of the rest of the world. If they had a complete tool kit, maybe then they would've encouraged every person/country to be self-sufficient with their resources, rather can creating a demand for more. Technology advances and more breakthroughs in every field plays an equal role for creation of demand. If mankind is satisfied with what they already have then economics can take a back seat. There probably would be lesser gap between the rich and the poor and more peace in the world if we weren't greedy.
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Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What are the benefits of economics?
Without economics we would still be hunter gatherers and farmers bartering with each other for basic tools of survival. Economics has marked the upward surge of humanity. You asked this question on your personal computer over the internet because of economics. You could not barter an internet into existence.
What are the classifications of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
Classification of economics?
classification of economics 1-Applied economics 2-Theoretical economics i)Welfare economics ii)Positive economics(i-Micro economics,ii-Macro economics,iii-Mathematical economics)
How economics related to business administration?
in economics we study about economic activities , as we know business is not possible without economic concern like money ,financial activities so both are directly interrelatd.
Whi is scarcity important in economics?
Scarcity is the fundamental basis of economics. Without scarcity, there would be no economy.
What is Max's part in Maximum Ride the Angel Experiment?
max leads the flock to rescue angle. without max angle wouldn;t be the same!
Why does poops have nipples?
why wouldn,t have nipples
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that makes NO sense.
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What are the benefits of economics?
Without economics we would still be hunter gatherers and farmers bartering with each other for basic tools of survival. Economics has marked the upward surge of humanity. You asked this question on your personal computer over the internet because of economics. You could not barter an internet into existence.
How would mercury help the sun to get a better temperature?
it wouldn`t
Is there going to be a fourth Diary of a Wimpy Kid?
Of Course! Why wouldn`t there be?
What is the tribal symbol of the yuchi Indians?
If I had the answer I wouldn' be asking now would I?
Would dogs eat food with candy in it?
yes but it wouldn`t be good for it.
What has the author J H van Geldrop written?
J. H. van Geldrop has written: 'A mathematical theory of pure exchange economies without the no-critical-point hypothesis' -- subject(s): Economics, Mathematical, Equilibrium (Economics), Mathematical Economics, Topology
What color hair does Maniac Magee have?
Oh, dude, Maniac Magee has gray hair. Yeah, like, not just any gray, but like, the coolest, most legendary shade of gray hair you've ever seen. It's like he's rocking the silver fox look before it was even a thing. So, yeah, gray hair all the way for that dude.
