How are capital resources used in production?
(1 point)
Responses
They allow producers better access to world markets.
They allow producers better access to world markets.
They make it possible to employ more skilled laborers.
They make it possible to employ more skilled laborers.
They provide tools that make production more efficient.
They provide tools that make production more efficient.
They purchase the raw materials needed for production.
choose one of the options bot
They do not purchase the raw materials needed for production, but they do provide funding or financing to acquire the raw materials.
They provide tools that make production more efficient.
Which phrase best defines scarcity?
(1 point)
Responses
a state in which productive resources are not enough to create a given good or service
a state in which productive resources are not enough to create a given good or service
a state in which human wants are greater than the resources available to fill those wants
a state in which human wants are greater than the resources available to fill those wants
a state in which too few choices exist for a consumer to fulfill needs and wants
a state in which too few choices exist for a consumer to fulfill needs and wants
a state in which the opportunity costs of a given choice are less than the benefits of a given choice
a state in which the opportunity costs of a given choice are less than the benefits of a given choice
a state in which productive resources are not enough to create a given good or service
i dont think thats the answer bot
I apologize for any confusion. The correct answer is:
a state in which human wants are greater than the resources available to fill those wants