Origin of scarcity problem for each economic activity

Can anybody suggest me the proper explanation for given problem regarding problem of scarcity in economics generally.

The problem of scarcity means that the origin for each economic activity is to: (v) facilitate social and political freedom. (w) maximize employment, economic development and purchasing power. (x) give goods for people who need them. (y) make sure the survival of human beings like a species. (z) maximize the profits of business firms.

View Complete Question

Related Questions in Macroeconomics

Q : Interest receipt Why is interest

Why is interest received classified as revenue receipt? Answer: Interest received is a revenue receipt since it does not build any liability nor it leads to the red

Q : Why Exceptional Demand Curve Explain

Explain with examples the reasons for exceptional demand curve

Q : Principles of macroeconomics What are

What are the “powers of the Federal Reserve

Q : Steps to analyze modifications in

What are the Steps to analyze modifications in equilibrium?

Q : Monetary policy-how is it decided The

The practice explores how monetary policy influences the economy and the type of factors which are significant in finding out the Monetary Policy Committee’s decision.

Q : Explain the term Macroeconomics

Macroeconomics is a study of: (1) the economy as an entire or in the aggregate. (2) worldwide economic problems of individual households. (3) interactions among firms and households in one exact market or industry. (4) the rising income inequality wit

Q : Unemployment (a) Do you think that

(a) Do you think that macroeconomic policy should be designed to achieve a measured unemployment rate of zero?

Q : Maximum Consumer Surplus Assume that

Assume that you receive $18 worth of ‘jollies’ (that is, utility, satisfaction or pleasure) from the very first hole of golf played on a particular day, and that your extra jollies from succeeding the holes drops $1 for each and every hole played. You shou

Q : Explain model of economy growth. The

The origin of economic growth can be traced back to Adam Smith's Wealth of Nations. InSmith's view, economic growth of a nation depends on the 'division of labour' and specialization, and is limited by the limits of div

Q : Problem on value of imports The balance

The balance of trade demonstrates a deficit of Rs 300 crore. The values of exports are Rs 500 crore. Determine the value of imports? Answer:

Discover Q & A

Leading Solution Library

Avail More Than 1426737 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1942667
Asked

3,689

Active Tutors

1426737

Questions
Answered

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

Submit Assignment