几个很基本的经济问题1.Describe the basic economic problem that is faced by both individuals and countries2.A long-lost wealthy aunt generously left you 1 million in her will.Would you face the problem of scarcity?Explain.3.Why is air normal
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几个很基本的经济问题1.Describe the basic economic problem that is faced by both individuals and countries2.A long-lost wealthy aunt generously left you 1 million in her will.Would you face the problem of scarcity?Explain.3.Why is air normal
几个很基本的经济问题
1.Describe the basic economic problem that is faced by both individuals and countries
2.A long-lost wealthy aunt generously left you 1 million in her will.Would you face the problem of scarcity?Explain.
3.Why is air normally a free good,but electricity purchased from a power compay is relatively expensive?
几个很基本的经济问题1.Describe the basic economic problem that is faced by both individuals and countries2.A long-lost wealthy aunt generously left you 1 million in her will.Would you face the problem of scarcity?Explain.3.Why is air normal
1. The basic economic problem faced by individuals and societies is: the economic resources are limited but the wants of people are unlimited. This is why we should make choices and the optimal choice will be made when marginal benefits equal marginal costs.
2. You will face the problem of scarcity. Although you have 1m dollars, it is still scarce relative to what you desire. Even you are Bill Gates, your assets are still scarce relative to your unlimited wants.
3. Air is fully sufficient. It is totally available and no one will be willing to pay for it. Electricity need to be produced with efforts of people, and it is scarce relative to people's needs. So we need money to pay for it.