--%>
Assignment Help - homework help

If resources were unlimited and freely available

Explain this statement:  “If resources were unlimited and freely available, there would be no subject called economics.”

E

Expert

Verified

If resources were unlimited and freely available, making choices would not be necessary.  Every person could have as much as they wanted of any good or service.  Science of choice should be unnecessary in Economics.

   Related Questions in Business Economics

  • Q : The federal fiscal stimulus Question:

    Question: Was the stimulus package passed in 2009 as success?  In answering this question the focus should be the articles on the syllabus, but you should also include opinions of other commentators.   Your answer should also describe w

    		•
  • Q : High-convexity portfolios outperform

    a) Whether the bond market moves up or down, high-convexity portfolios will for all time outperform low-convexity portfolios of equal duration and yield." Elucidate the argument supporting this statement and the connection to the classical immunization strategy. What

    		•
  • Q : Subjective aspects of pricing- economic

    Adam Smith must have emphasized more strongly how his Wealth of Nations drew concepts and inspiration by Richard Cantillon’s Essai. Now today’s perspective that the Wealth of Nations would considered even

    		•
  • Q : Define Benefit Cost Ratio or

    Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?

    		•
  • Q : Construct a 2-D graph which comprises

    How to construct a 2-D graph which comprises drawing a horizontal and a vertical axis?

    		•
  • Q : Importance of Price Earnings Ratio

    Write down the importance of Price Earnings Ratio?

    		•
  • Q : Regulate prices to ensure against

    Not between exact activities for government to undertake, according to Adam Smith, would be for the government to: (1) maintain public institutions and public works. (2) protect society by invasion. (3) serves as a medium for law and justice. (4) regu

    		•
  • Q : Generalization and abstraction are

    Explain the statement: “Generalization and abstraction are nearly synonymous.”?

    		•
  • Q : Describe advertising costs or

    Advertising costs or persuasive advertising: When the expenses incurred by a find to persuade the potential consumer to present their brands or products as different or better compared to another brands or products is termed as advertising costs or pe

    		•
  • Q : Qualitative and Quantitative data What

    What is the difference between qualitative data and quantitative data, provide an example of each.

    		•