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What is the result of having limited resources in an economy?
People make economic choices about what to do with their resources.
What is the law of scarcity in economics?
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. ...
What results from having a nation having conflicting economic goals?
the need for economic safety nets
What is the importance of proportionate development?
proportionate development means having the balanced development in all the regions
Why did Richard Stone win The Prize in Economic Sciences in 1984?
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1984 was awarded to Richard Stone for having made fundamental contributions to the development of systems of national accounts and hence greatly improved the basis for empirical economic analysis.
What is the importance of power resources of a country?
Energy sources plays a very important role in the economic development of a country. A country having well developed sources of energy has a better chance of development rather than a country having less energy sources.
What is ecosustainability?
Eco-sustainability is about having sustainable economic development perpetuated by sustainable consumption of natural resources, or ecological sustainability.
What are the reasons why we need to have abundant energy resources?
Having abundant energy resources is important to ensure a stable and reliable energy supply for powering homes, industries, and transportation. It also helps promote economic development, create jobs, and support technological advancements. Additionally, abundant energy resources can reduce dependency on fossil fuels and contribute to reducing greenhouse gas emissions and combating climate change.
What is the result of having limited resources in an economy?
People make economic choices about what to do with their resources.
What is non economics resources?
having no economic importance or implication
Energy resources in the philippines?
Describe the development of various energy resources in the Philippines?
What is the law of scarcity in economics?
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources. It states that society has insufficient productive resources to fulfill all human wants and needs. ...
Relationship of population resources and environment to health and development?
The relationship between population, resources, environment, and health is interconnected. Growing populations place pressure on resources, leading to environmental degradation which can impact health. Sustainable resource management is critical for improving health outcomes and ensuring long-term development. Balancing population growth with resource availability and environmental protection is essential for promoting overall well-being and sustainable development.
What is the economic development plan of muscat called?
I believe it was the renaissance leap forward, although I am having difficulty confirming that answer. :(
Which two South American countries have sufficient energy resources to meet their needs?
Brazil and Venezuela have sufficient energy resources to meet their needs, with Brazil having abundant hydroelectric resources and Venezuela possessing vast oil reserves.
What is the relationship between peace and development?
In general, having less conflict lowers costs by reducing loss of economic inputs, allocation of output to conflict, and transactions costs/uncertainty associated with conflict. All of these factors would indicate higher economic resources would be available in the absence of conflict, and more wealth in society generally means more consumption, saving, and government spending - all of which improve development.
What are the disadvantages of having different energy resources?
Cost: Developing and maintaining multiple energy resources can be expensive. Environmental impact: Some energy resources may have negative effects on the environment, such as pollution or habitat destruction. Reliability: Different energy resources have varying levels of reliability, which can impact the stability of the energy supply. Infrastructure requirements: Each energy resource may require specific infrastructure, making it challenging to integrate multiple resources into the energy grid.
