Problem regarding exceed human requirements

The fact that human requirements exceed the production possible along with the resources obtainable is termed as economic: (1) scarcity, (2) welfare, (3) shortage and (4) deficits.

Can someone please suggest me the proper explanation for specified problem regarding exceed human requirements.

View Complete Question

Related Questions in Public Economics

Q : Existence of shortages or surpluses

Shortages or surpluses exist while: (w) transaction costs are zero. (x) quantity supplied be different from quantity demanded. (y) monopolists enjoy exorbitant profits. (z) supply prices equivalent demand prices. H

Q : Estimate relative cost When SCUBA

When SCUBA vacations are $480 and DVDs are $16, in that case what is the relative cost of a SCUBA vacation within terms of a DVD?: (i) 30 disks. (ii) 360 disks. (iii) 180 disks. (iv) 20 disks. (e) 3,600 disks. I ne

Q : Define much of a good as need at zero

I need a good answer on the topic of free good in economic. Please give me your suggestion that when all people can consume as much of a good as they desire at zero cost, this is a: (w) welfare good. (x) bonus for buying something else. (y) surplus su

Q : Condition to being a free good Which of

Which of the given probably comes closest to make a free good: (1) Unexpected warmth through the sun within Chicago in January. (2) A hot school lunch given for a needy student. (3) A microwave pizza bought along with food stamps. (4) Income earned th

Q : Closest to being a free good in

The closest to being a free good of the one given would be: (i) a scholarship for a brilliant but impoverished student. (ii) Free “meals on wheels” programs for the aged and infirm, (iii) a winning lottery ticket you determined on the side

Q : Problem relating to the Distributive

Several parents ask children to write down lists of “things” they would like Santa to carry for Christmas, as well as to rank their “wants” in sequence. While gifts are positively associated to children’s lists, that “wish list&rdqu

Q : People thinking about invisible hand of

Adam Smith’s “invisible hand” consider as to a process through which people think: (w) trying to serve their own interests also exploit social well being. (x) rely upon democratic governments to make main economic decisions. (y) base

Q : Problem on equivalent amounts of goods

Can someone help me in finding out the right answer from the given options. According to the equivalent share criterion of distribution, individuals must: (i) Share income according to personal requirement. (ii) All produce equivalent shares of output. (iii) Each cons

Q : Property Rights I have a problem in

I have a problem in economics on Property Rights. Please help me in getting the right answer from the following question. John Locke believed that the value and property rights derive from: (i) Social conventions prevailing inheritance. (ii) The helpf

Q : Limitation of economic capital -

Hey friends please give your opinion for the problem of economic capital that is given below: Illustrations of economic capital do NOT include: (w) buildings. (x) tools. (y) machinery. (z) stocks and bonds.

Discover Q & A

Leading Solution Library

Avail More Than 1453504 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1953867
Asked

3,689

Active Tutors

1453504

Questions
Answered

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

Submit Assignment