why is economics called a study of scarcity and choice

why is economics called a study of scarcity and choice

Scarcity means that people want more than is available. Scarcity limits us both as individuals and as a society. As individuals, limited income (and time and ability) keep us from doing and having all that we might like. As a society, limited resources (such as manpower, machinery, and natural resources) fix a maximum on the amount of goods and services that can be produced. Scarcity requires choice. People must choose which of their desires they will satisfy and which they will leave unsatisfied. When we, either as individuals or as a society, choose more of something, scarcity forces us to take less of something else. Economics is sometimes called the study of scarcity because economic activity would not exist if scarcity did not force people to make choices. When there is

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 why do you get tubes in your ears

why do you get tubes in your ears

Children might wake up from anesthesia frustrated with what happened, and they might cry or be confused about where they are. Significant discomfort is rare, though. (Story continued below. ) What are the risk factors? The tubes can sometimes cause chronic infection. Sometimes the tube can fall inside the ear. If it's not causing problems, though, your doctor might recommend leaving it there. And sometimes the tube can become plugged and not work. In rare instances, a person might have abnormal anatomy, and when the doctor inserts the tube, it hits a vein or an artery that can cause bleeding. What's the recovery time? Your child should be able to return to day care or school fairly soon after surgery. Your child might be prescribed some ear drops or antibiotics to take for a few days

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 why do you get shin splints when running

why do you get shin splints when running

Shin splints are a beginning runner or walker's worst nightmare. You make the commitment to do exercise, and then BAM! your shins are throbbing with every step. Shin splint pain commonly happens when runners are new to an exercise program. Shin splints are due to an imbalance between the muscles that lift the foot and those that pull it down. , running or walking too far too soon, and/or wearing improper running shoes can be the cause of shin splints. If you get the right shoes and cut back on distance, shin splint pain should eventually go away as you develop your shin muscles and adjust to your new exercise program. Here are a few tips to get you through the pain: can help build the shin muscles and improve their flexibility so you can overcome shin splints. Try writing the entire

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 why do we go to church on sundays

why do we go to church on sundays

Why do we go to church on Sundays? Sunday is a celebration! The early Christians worshipped together on the first day of the week, Sunday, to celebrate that Jesus had risen from the dead. While Sunday has become a day of worship for most Christians, the Bible doesnвt command us to worship on Sunday. In fact, throughout history, Jews have worshipped on Saturday. The Old Testament taught Israel to remember the Sabbath day and to keep it holy, and so they set aside Saturday as the Sabbath for rest and remembering Godвs work. Godвs commandment to set aside of day for worship and rest (a "Sabbath") still stands, but the day isnвt important. Christians have chosen Sunday as a special day to go to church and worship God as a group. Sunday is a chance to honor the Lord and have a weekly reminder

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 why is my verizon wifi so slow

why is my verizon wifi so slow

For the two decades that the internet has been in our lives, despite all the changes and technology improvements, one constant has remained: pokey connections. Frustration quickly sets in when pages wonБt load, videos buffer, or email crawls to a halt. Here are five common problems and solutions to try. 1. Internet thieves One of the best things about Wi-Fi is the easy access it provides to the internet. But, if your network password is too simple, there could be more people tapping into it than you originally bargained for. Obviously, this isnБt something you want. Networks with weak passwords or no passwords can be accessed by almost anyone. Use a free program called to review each device that has connected to your network, and look for IP addresses you donБt recognize. Prevent this by

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 why do you want to study mba

why do you want to study mba

While a Master of Business Administration (MBA) qualification has many benefits, perhaps the greatest is the benefits it can have on your career. EuropeБs top site for postgraduate courses information, describes how studying for an MBA can be Бvery beneficialБ in allowing students to further enhance enhances both their skills and knowledge in the finance sector. But with the demand and cost sometimes putting prospective students off MBAs before theyБve even applied, the pros far outweigh the cons as the site highlights higher salaries, more networking opportunities, and new skills and knowledge as being the top three reasons for doing an MBA. Writing forбthe Independent on, Andrew Main Wilson, chief executive of the Association of MBAs (AMBA),described how the MBA is the one academic

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 why i want this job letter example

why i want this job letter example

How to Answer БWhy Do You Want to be a Manager? Б When youБre trying to make the career transition from being a team member to being a manager, your interviewer will likely want to know what your motivations are for making the change. You can expect to get some variation of the question: БWhy do you want to be a manager? " or БWhy do you want to be a supervisor? Б There are both good and bad reasons to give for wanting to join the ranks of management, and how you answer this question will tell the interviewer a lot about your management qualifications and leadership capacity. Here are some tips examples for giving the best possible answer. Highlights Benefits for the Company, Not Your Career You probably want to move into a managerial position because it is the next logical step in you

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 why do we need to use renewable energy

why do we need to use renewable energy

For thousands of years we have relied on burning fossil fuels to generate energy, but in todayБs world using oil, gas and coal for our energy needs is becoming a problem. Climate change is one of the greatest environmental challenges that we have ever faced, and the main cause behind it is our dependence on fossil fuels. Burning coal, petroleum and other fossil fuels is the primary means by which we produce electricity, but it also leads to heavy concentrations of pollutants in our air and water. h using fossil fuels to generate energy is that there is not a limitless amount available. ...

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 why do you want to help others

why do you want to help others

The remarkable thing about giving to others is summed up in a short, sweet statement by Anne Frank: Because when you give help to someone in need, you facilitate strong encouragement. Showing compassion and giving kindness can really uplift a person when heБs experiencing a rough time. It conveys a sense of БfaithБ and an БI believe in youБ spirit which alone can act as a tremendous source of renewal for someone who is hurting Because helping people in need sets an, family, and friends Because when you give to others it sets a positive and powerful tone for the day. Giving induces high levels of fulfillment and happiness that radiates an attractiveness others are drawn to Because giving to others is a jumpstart cable to a healthy habit. Once you start giving, you canБt stop

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 why good people do bad things debbie ford

why good people do bad things debbie ford

In her sixth book, New York Times bestselling author Debbie Ford returns to a subject she covers in her workshops and has written about in previous works: the darkness that lies within us all and causes us "to act out in inappropriate ways, destroy our relationships, sabotage our dreams, and place ourselves in harm's way. " According to the author, the source of our doing bad things is the false self which is animated by our wants, needs, and deep feelings of unworthiness. Within each of us a war rages between "the good self and the bad, the light and the dark, the id and the ego, the Jekyll and Hyde. " Another cause for our self-destructiveness is unacknowledged and unprocessed shame, that abundant storehouse of negative messages we have received from those around us. One reasons for

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