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Economics

Answered

1. Why is it important to know the characteristics of resources in the concept of production?

2. Why is economics deeply rooted in the theory of scarcity?

Sagot :

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Answer:

1. Certain characteristics of resources create incentives for people to act in one way or another. When a resource is very scarce and very valuable, for example, the incentives to steal that resource will be considerably stronger than if the resource is plentiful or not particularly useful.

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