Business, 20.09.2019 23:30 PresleyPie9452

The best explanation of why there will always be scarcity is because question 5 options: a) people and their tools are efficient b) natural disasters create frequent shortages c) government create scarcity to keep people wanting more d) while peoples' wants are unlimited, resources are limited

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Answer from: Geo777

D- While people's wants are unlimited, resources are limited. Economics itself is a study of how to allocate limited resources to satisfy unlimited wants. This emanates from a basic fact of human existence that individuals are never totally satisfied with the quantity and variety of goods and services they consume. Basically, people never acquire enough. They always have something else they need or want. These two problems of limited resources and unlimited wants has afflicted humanity since time immemorial. In fact, war as a human tradition emanated out of the need to satisfy unlimited human wants and needs in a resource limited environment.

Answer from: Quest

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

Answer from: Quest

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23

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The best explanation of why there will always be scarcity is because question 5 options: a) people...