2007-03-26 22:46:15 · 4 answers · asked by KSSB 2 in Social Science ➔ Economics
same question!
2007-03-26 22:50:50 · answer #1 · answered by 0330em@jd 4 · 0⤊ 1⤋
Economics deals with best satisfying the society's unlimited needs with limited resources. This will involve productive and allocative efficiency, and requires making rational choices, producing more of what the society wants, and using minimal resources to create more output. This would require sacrifices, in the form of opportunity costs. Consumers would have to choose what to demand more of and what to less demand of, same for suppliers. If there is an increase in the technological aspects or more resources found then there can be more needs satisfied.
2007-03-27 01:45:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
In the short run, substitutes.
In the long run, greater efficiency and conservation.
In the much longer run, more resources (it's a big universe out there).
In the longest run: we will evolve into formless blobs of pure energy, with nary a want. (not much fun, huh?)
Peace
2007-03-27 02:03:56 · answer #3 · answered by zingis 6 · 0⤊ 0⤋
im sure when we run out of these resources we will have come up with ideas to survive, well cross the bridge when we reach
2007-03-26 23:09:14 · answer #4 · answered by slyseth 1 · 0⤊ 1⤋