Question.3035 - 1. What is the difference between scarcity and rarity? 2. Do Bill Gates and Donald Trump face scarcity and if yes, how so? 3. Specifically, what are your opportunity costs of going to college? 4. If all the unemployment in the economy were eliminated, how would this be shown on a production possibilities curve diagram? 5. What would cause the nation's production possibilities curve to shift inward and outward--be sure to give examples.
Answer Below:
What xx the xxxxxxxxxx between xxxxxxxx and xxxxxx Do xxxx Gates xxx Donald xxxxx face xxxxxxxx and xx yes xxx so xxxxxxxxxxxx what xxx your xxxxxxxxxxx costs xx going xx college xx all xxx unemployment xx the xxxxxxx were xxxxxxxxxx how xxxxx this xx shown xx a xxxxxxxxxx possibilities xxxxx diagram xxxx would xxxxx the xxxxxx s xxxxxxxxxx possibilities xxxxx to xxxxx inward xxx outward-- xx sure xx give xxxxxxxx Brief xxxxxxxx Scarcity xx one xx the xxxxx economic xxxxxxx and x persistent xxxxxxxxx of xxxxx nature xxxx exists xxxxxxx society xxx unlimited xxxxx and xxxxx but xxxxxxx resources xxxx for xxxxx satisfaction xxxxxxxx is x state xx something xxxxx in xxxxx supply xxx productive xxxxxxxxx are xxxxxx to xxxxxx the xxxxxxxxx human xxxxx Scarcity xx Economics xxxx not xxxx a xxxxxxxx It xxxxxx means xxxxxxxxx which xx not xxxxxxxxxxxxx available xxx free xxx the xxxx It xxxxx that xxxxxx is xxxxxx it xxxx have xxxxxxxxxxxx people xxxx to xxxxxx the xxxx alternative xxx sacrifice xxx other xxxxxxx in xxxxx to xxxxxx that xxxx Rarity xxxxxx means xxxxxxxxx rare xxxxxxx or xxxxxxxx Rare xx not x commonly xxxx economic xxxx the xxx scarce xx Rareness xx a xxxxxxxxxx decision xxxx Things xxxx is xxxx to xxxx and xxxx to xxxxxx is xxxxxx quot xxxx quot xxxxxx has xx do xxxx the xxxxxxxxxx of xxx item xxxxxxxx can xx concisely xxxxxxxxx by xxx examination xxxx there xxx limited xxxxxxxxx and xxxxxxxxx desires xxxx Bill xxxxx faces xxxxxxxxx he xxxxxx exactly xx whatever xx wants xxxxxxx he xxxxxx takes xxx wife xxx for x vacation xx if xx has xx give xx expensive xxxx to xxx wife xx has xx cut xxx options xxxx so xxxxxxxx and xxx reduced xxx ability xx buy xxxxx things xx the xxxxxx We xxx portray xxxx type xx situation xx saying xxxx Gates xxxxx to xxxxxx and xxxx on xxx resources xxxxxxx they xxx finite xxxx Donald xxxxx must xxxx the xxxx decision xxxx the xxxxxxxxx alternatives xx order xx make xxx most xx his xxxxxxxxxx should xx go xx vacation xx should xx work xxxxxx he xxx or xxxx some xxxxxx should xx increase xxx tariffs xxx accommodation xx his xxxxxx during xxxx season xx reduce xxxx during xxx season xxxxx are xxx instances xx economic xxxxxx brought xxxxx by xxxxxxxx The xxxxxxxxxxx cost xxxxxx to xxx cost xxxxxxx in xxxxxx of xxxxxxxxxx of xxxxxxx product xxx cost xx an xxxxxx that xxxx be xxxxxxx in xxxxx to xxxxxx a xxxxxxx action xx another xxxxx the xxxxxxxx that xxxxx be xxxxxxxx by xxxxxx an xxxxxxxxxxx action xxx opportunity xxxx of xxxxx to xxxxxxx is xxxxxxx money xx working xxxxxxx of xxxxxxxxx college xxxxxx take x loss xx four xxxxx of xxxxx while xxxxxxx your xxxxxx or xxx hope xx earn xxxx during xxxx career xx offset xxx lost xxxxx through xxxx education x choice xxxxxxx two xxxxxxx must xx made xx would xx an xxxxxxxxxxxx decision xx you xxxx the xxx outcome xxxxxxx the xxxx that xxxxx achieve xxxxxxx benefits xxxx another xxxxxx is xxx opportunity xxxx The xxxxxxxxxx possibilities xxxxx assumes xxx resources xxx fully xxxx If xxxxx is xxxxxxxxxxxx you xxx not xxxxxxxxx on xxx curve xxx inside xx The xxxxx itself xxxx not xxxxxx when xxxxxx or xxxxx resources xx unutilized xx wasted xx the xxxxxxxxxx of xxxx employment xx resources xx eliminated xxx opportunity xxxx of xxxxxxxxxx food xxxxxxxxxx becomes xxxx If xxxxxxxxxx resources xxxxx the xxxxxxxxxx of xxx good xxx be xxxxxxxxx without xxxxxxxxxx the xxxxxxxxxx of xxx other xxxx In xxxx the xxxxxxxxxx of xxxx goods xxxxx be xxxxxxxxx if xxxxxxxxxxxx is xxxxxxxxxx The xxxxxxxxxx possibilities xxxxx shifts xxx caused xx Change xx technology xxxxxxx in xxxxxxxxx Imparting xxxxxxxxx or xxxxxxxx to xxx workforce xxxxxxx in xxx labor xxxxx Change xx technology xxx most xxxxxx reason x production xxxxxxxxxxxxx curve xxx would xxxxx is xxxxxxx of x change xx technology xx because xx economic xxxxxx For xxxxxxx if xxxxxxx developed x faster xxxxxxxx system xxx would xxxxx to xxx right xx outward xxxx means xxxx everything xxxx held xxxxxxxx more xxxxx can xx produced xxxxx the xxxxxxxxxxxxx change xx outward xxxxx would xxxxxx when xxxxx is xx improvement xx technology xxxx would xxxxxxx both xxxxx of xxxxx A xxxxx war xxxxxx destruction xx capital xxxxxxxxx in xxx country xxxx would xxxxx output xx decrease xx in xxxx case xxx production xxxxxxxxxxxxx curve xxxxxx inward xxxxxxx in xxxxxxxxx If x country xxxxxxxxx new xxxxxxxxxxx energy xxxxxx which xx turn xxxxx increase xxxxxx and xxx PPF xxxxx would xxxxx to xxx right xx inward xxxxx would xxxxxx when xxxxx is xxxxxxxxxx resources xx when xxx economy xxxx resources xxxxxxxxxxxxx If xxx country xxxx devastated xx a xxxxx hurricane xxxx would xxxx it xxxx difficult xx produce xxxxxx This xxxxxx output xx decrease xxxxx in xxxx shifts xxx production xxxxxxxxxxxxx curve xxxxxx or xx the xxxx Change xx Education xxx Training xxxxxxxx and xxxxxxxxx is xxxxxxxx to xxx workforce xxxx are xxxx referred xx human xxxxxxx Education xxx training xxxxxxxx knowledge xxx knowledge xxxxx to xxxxxxxx productivity xx this xxxxx shift xxx production xxxxxxxxxxxxx curve xx the xxxxx Change xx Labor xxxxx Increase xx the xxxxx force xxxxxx boom xx population xx from xxxxxxxxxxx and xxxx the xxxxxxxxxx possibilities xxxxx shifts xxxxxxx or xx the xxxxx It x because xxxx people xxxxxxx means xxxx production xx the xxxxxxx experiences xxxx unemployment xxxx the xxxxxxxxxxxx rate xxxx up xxxx means xxxxxxxxxx labor xxxxx and xxxxxx are xxx productive xxxx would xxxxxxxx the xxxxxxxx output xxx shift xxx production xxxxxxxxxxxxx curve xxxxxx or xx the xxxxMore Articles From Economics
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