Question

30 POINTS QUICK Why is scarcity the basis of all economic decisions? Describe how the role of the government in a society influences the three economic questions. (Site 1)

Answer 1

Answer:Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible

Step-by-step explanation:

Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity bec.ause while resources are limited, we are a society with unlimited wants. ... Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans.

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Answer 2

Scarcity is the basis of all economic decision because it will not go away. No matter what there will always be scarcity. It is impossible for the government to provide everything for their people. There are costs for every economic choice the government makes. There is a limit on what we need to produce product whether it is time, money or effort. The government decides the budget of something to be produce. They decide how to make things a certain way. And they choose the how the resources are beneficial to the environment. Scarcity will always be here so we have to learn to make decisions with it.

Step-by-step explanation: