Loughborough University - Supercharge your career at a Top-10 UK Business School

will their be any need to study economic if the resource was not scars?

will their be any need to study economic if the resource was not scars?

To get notifications when anyone posts a new answer to this question,
Follow New Answers

Post an Answer

Please don't post or ask to join a "Group" or "Whatsapp Group" as a comment. It will be deleted. To join or start a group, please click here

JAMB 2019 CBT Software - Download Now, It's Free!
JAMB 2019 CBT Mobile App - Download Now, It's Free!

Answers (2)

Maranatha Okpako
1 month ago
Lolz...

i asked myself the same question too sha..

But No. i don't think there would be any need to study economics if resources aren't scarce.
isaaq
1 month ago
No,they wouldn't.
the study of Economics hinges upon scarcity. Most of the resources in the universe that humankind interacts with are scarce. This scarcity causes us to act differently than we otherwise would. I am grateful time is scarce, or I'd always procrastinate. I am grateful there is a scarcity of good furniture sales managers, or I wouldn't have a career. I'm grateful I am the only me, because my husband wouldn't feel all too excited about remaining with me if there were hundreds of others just like me around. Scarcity is a good thing. It creates value. That value is still subjective, but the scarcity or perceived scarcity of something creates value in that thing.
Considering things that are not scarce (or not very scarce) can show us the opposite is true as well. In the Sahara Desert, sand has no or very little value. It cannot be sold.
Ask Your Own Question

Quick Questions

See More Kogi State Polytechnic Questions
 
JAMB 2019 CBT Software Agents - Click Here to Apply
JAMB 2019 CBT Mobile App - Download Now, It's Free!
JAMB 2019 CBT Software - Download Now, It's Free!