Explain reason why land, capital and labor are scarce

Land, capital and labor are all scarce since: (1) advertising mainly over stimulates human wants. (2) once employed they cannot be used again. (3) each productive resource needs a monetary return for its employ. (4) inheritance under a capitalism protection poor people by having a fair share. (5) their restricted availability permits less potential production than people want.

Can anybody suggest me the proper explanation for given problem regarding Economics generally?

View Complete Question

Related Questions in Macroeconomics

Q : Physical quality of life index DISCUSS

DISCUSS the experience of high GNP countries and low GNP with regard to PQLI.

Q : Objective of government Budget Give

Give some objective of government Budget. Answer: The objectives which are pursued by government via the budget are as follows: A) To attain economic growth. B) To decrease in equalities in income and wealth.

Q : Help If the price of K declines, the

If the price of K declines, the demand curve for the complementary project J will:

Q : Nominal GNP problem The value of

The value of nominal GNP of an economy was Rs. 2,500 crores in a specific year. The value of GNP of that country throughout the same year, computed at the prices of some base year was Rs.3000 crores. Evaluate the value of GNP deflator of the year in terms of percentag

Q : Steps to analyze modifications in

What are the Steps to analyze modifications in equilibrium?

Q : Explain Shut Down Price Explain the

Explain the term Shut Down Price? Illustrate it.

Q : Balance of trade IN which situation,

IN which situation, there is a deficit in the balance of trade.

Q : Consequence of investment in economy

When in an economy intended investment is more than intended savings, then what is the consequence of it on the national income? Answer: When I > S, the level of

Q : POSSIBILITIES Possibilities Food

Possibilities Food (millions of tons per year) Tractors (millions per year) A 0 30 B 4 28 C 8 24 D 12 20 E 16 14 F 20 8 G 24 0 a. Is it possible for this nation to produce thirty million tons of food per year? Why or why not. b. Is it possible for this nation to produce thirty million

Q : Would inflation targeting be a good

Question: Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment?

Discover Q & A

Leading Solution Library

Avail More Than 1453994 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1961690
Asked

3,689

Active Tutors

1453994

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment