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 amp x production xxxxxxxxxxxxx curve xx shift xxxxxx and xxxxxxxxx be xxxx to xxxx examples xxxx nbsp xxxxx response xxxxxxxx is xxx of xxx basic xxxxxxxx problem xxx a xxxxxxxxxx condition xx human xxxxxx that xxxxxx because xxxxxxx has xxxxxxxxx wants xxx needs xxx limited xxxxxxxxx used xxx their xxxxxxxxxxxx Scarcity xx a xxxxx of xxxxxxxxx being xx short xxxxxx The xxxxxxxxxx resources xxx scarce xx fulfil xxx boundless xxxxx needs xxxxxxxx in xxxxxxxxx does xxx mean x shortage xx simply xxxxx something xxxxx is xxx substantially xxxxxxxxx for xxxx all xxx time xx means xxxx supply xx finite xx does xxxx restrictions xxxxxx have xx select xxx best xxxxxxxxxxx and xxxxxxxxx the xxxxx choices xx order xx obtain xxxx item xxxxxx simple xxxxx something xxxx unusual xx uncommon xxxx is xxx a xxxxxxxx used xxxxxxxx term xxx way xxxxxx is xxxxxxxx is x subjective xxxxxxxx call xxxxxx that xx hard xx find xxx hard xx obtain xx called xxx quot xxxx amp xxxx Rarity xxx to xx with xxx uniqueness xx the xxxx Scarcity xxx be xxxxxxxxx explained xx the xxxxxxxxxxx that xxxxx are xxxxxxx resources xxx unlimited xxxxxxx Even xxxx Gates xxxxx tradeoffs xx cannot xxxxxxx do xxxxxxxx he xxxxx Whether xx should xxxxx his xxxx out xxx a xxxxxxxx or xx he xxx to xxxx an xxxxxxxxx gift xx his xxxx he xxx to xxx his xxxxxxx ever xx slightly xxx has xxxxxxx his xxxxxxx to xxx other xxxxxx in xxx future xx can xxxxxxx such xxxx of xxxxxxxxx by xxxxxx ldquo xxxx Gates xxxxx to xxxxxx and xxxx on xxx resources xxxxxxx they xxx finite xxxxx Even xxxxxx Trump xxxx take xxx best xxxxxxxx from xxx available xxxxxxxxxxxx In xxxxx to xxxx the xxxx of xxx well-being xxxxxx he xx on xxxxxxxx or xxxxxx he xxxx should xx buy xx sell xxxx hotels xxxxxx he xxxxxxxx the xxxxxxx for xxxxxxxxxxxxx in xxx hotels xxxxxx peak xxxxxx or xxxxxx them xxxxxx off xxxxxx These xxx all xxxxxxxxx of xxxxxxxx choice xxxxxxx about xx scarcity xxx opportunity xxxx refers xx the xxxx forgone xx favour xx production xx another xxxxxxx The xxxx of xx option xxxx must xx forgone xx order xx follow x certain xxxxxx In xxxxxxx words xxx benefits xxxx could xx received xx taking xx alternative xxxxxx The xxxxxxxxxxx cost xx going xx college xx earning xxxxx by xxxxxxx instead xx attending xxxxxxx Either xxxx a xxxx of xxxx years xx wages xxxxx getting xxxx degree xx you xxxx to xxxx more xxxxxx your xxxxxx to xxxxxx the xxxx wages xxxxxxx your xxxxxxxxx A xxxxxx between xxx options xxxx be xxxx It xxxxx be xx trouble-free xxxxxxxx if xxx knew xxx end xxxxxxx However xxx risk xxxx could xxxxxxx greater xxxxxxxx with xxxxxxx option xx the xxxxxxxxxxx cost xxx production xxxxxxxxxxxxx curve xxxxxxx all xxxxxxxxx are xxxxx used xx there xx unemployment xxx are xxx operating xx the xxxxx but xxxxxx it xxx curve xxxxxx does xxx change xxxx labour xx other xxxxxxxxx go xxxxxxxxxx or xxxxxx If xxx assumption xx full xxxxxxxxxx of xxxxxxxxx is xxxxxxxxxx the xxxxxxxxxxx cost xx increasing xxxx production xxxxxxx zero xx unemployed xxxxxxxxx exist xxx production xx one xxxx can xx increased xxxxxxx decreasing xxx production xx the xxxxx good xx fact xxx production xx both xxxxx could xx increased xx unemployment xx eliminated xxxx nbsp xxx production xxxxxxxxxxxxx curve xxxxxx are xxxxxx by xxxx Change xx technology xxxx Changes xx resources xxxx Imparting xxxxxxxxx or xxxxxxxx to xxx workforce xxxx Changes xx the xxxxx force xxxxxx in xxxxxxxxxx The xxxx common xxxxxx a xxxxxxxxxx possibilities xxxxx PPF xxxxx shift xx because xx a xxxxxx in xxxxxxxxxx or xxxxxxx of xxxxxxxx growth xxx example xx someone xxxxxxxxx a xxxxxx computer xxxxxx PPF xxxxx shift xx the xxxxx or xxxxxxx This xxxxx that xxxxxxxxxx else xxxx constant xxxx goods xxx be xxxxxxxx after xxx technological xxxxxx An xxxxxxx shift xxxxx result xxxx there xx an xxxxxxxxxxx in xxxxxxxxxx that xxxxx benefit xxxx types xx goods x major xxx causes xxxxxxxxxxx of xxxxxxx equipment xx the xxxxxxx This xxxxx cause xxxxxx to xxxxxxxx so xx this xxxx the xxxxxxxxxx possibilities xxxxx shifts xxxxxx Changes xx Resources xx a xxxxxxx discovers xxx alternative xxxxxx source xxxxx in xxxx would xxxxxxxx output xxx the xxx curve xxxxx shift xx the xxxxx An xxxxxx shift xxxxx result xxxx there xx unemployed xxxxxxxxx or xxxx the xxxxxxx uses xxxxxxxxx inefficiently xx the xxxxxxx gets xxxxxxxxxx by x major xxxxxxxxx this xxxxx make xx more xxxxxxxxx to xxxxxxx things xxxx causes xxxxxx to xxxxxxxx which xx turn xxxxxx the xxxxxxxxxx possibilities xxxxx inward xx to xxx left xxxxxx in xxxxxxxxx and xxxxxxxx Training xxx education xx imparted xx the xxxxxxxxx they xxx then xxxxxxxx as xxxxx capital xxxxxxxxx and xxxxxxxx increase xxxxxxxxx and xxxxxxxxx tends xx increase xxxxxxxxxxxx so xxxx would xxxxx the xxxxxxxxxx possibilities xxxxx to xxx right xxxxxx in xxxxx Force xxxxxxxx in xxx labor xxxxx either xxxx in xxxxxxxxxx or xxxx immigration xxx then xxx production xxxxxxxxxxxxx curve xxxxxx outward xx to xxx right xx amp 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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