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11 Dec 2019
There is no shortage of scarce resources in a market economy because:
(i) the government makes shortages illegal.
(ii) prices adjust to eliminate shortages.
(iii) resources are abundant in market economies.
(iv) quantity supplied is always greater than the quantity demanded in market economies.
There is no shortage of scarce resources in a market economy because:
(i) the government makes shortages illegal.
(ii) prices adjust to eliminate shortages.
(iii) resources are abundant in market economies.
(iv) quantity supplied is always greater than the quantity demanded in market economies.
Keith LeannonLv2
9 Apr 2020