when two tasks follow the same basic rules but look different, it is called: course hero

What does scarcity mean in ham?

Scarcity means human wants for goods and services exceed the available supply. Supply is limited because resources are limited. Demand, however, is virtually unlimited. Whatever the supply, it seems human nature to want more. 100 people / 10 people per ham = a maximum of 10 hams per month if all residents produce ham.

What is scarcity in economics?

Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life. Scarcity means that human wants for goods, services and resources exceed what is available.

What is economics learning?

Learning Objectives. Economics is the study of how humans make decisions in the face of scarcity. These can be individual decisions, family decisions, business decisions or societal decisions. If you look around carefully, you will see that scarcity is a fact of life.

Why is economics important?

Most important, economics provides the tools to work out those puzzles. If you have yet to be been bitten by the economics “bug,” there are other reasons why you should study economics.

How many pins can a worker make in a day?

In his observations of pin factories, Smith observed that one worker alone might make 20 pins in a day, but that a small business of 10 workers (some of whom would need to do two or three of the 18 tasks involved with pin-making), could make 48,000 pins in a day.

How many people were in the labor force in 2015?

Think about it this way: In 2015 the labor force in the United States contained over 158.6 million workers, according to the U.S. Bureau of Labor Statistics. Similarly, the total area of the United States is 3,794,101 square miles. These are large numbers for such crucial resources, however, they are limited.

What is the problem of scarcity?

Economics seeks to solve the problem of scarcity, which is when human wants for goods and services exceed the available supply. A modern economy displays a division of labor, in which people earn income by specializing in what they produce and then use that income to purchase the products they need or want.

What is the meaning of stages in psychology?

By stages he meant a sequence of thinking patterns with four key features: They always happen in the same order. No stage is ever skipped. Each stage is a significant transformation of the stage before it. Each later stage incorporated the earlier stages into itself.

What are the stages of cognitive development?

Piaget proposed four major stages of cognitive development, and called them (1) sensorimotor intelligence, (2) preoperational thinking, (3) concrete operational thinking, and (4) formal operational thinking. Each stage is correlated with an age period of childhood, but only approximately.

How did Piaget develop cognition?

After observing children closely, Piaget proposed that cognition developed through distinct stages from birth through the end of adolescence. By stages he meant a sequence of thinking patterns with four key features: 1 They always happen in the same order. 2 No stage is ever skipped. 3 Each stage is a significant transformation of the stage before it. 4 Each later stage incorporated the earlier stages into itself.

What is hypothetical reasoning?

To answer such questions, students must use hypothetical reasoning, meaning that they must manipulate ideas that vary in several ways at once, and do so entirely in their minds. The hypothetical reasoning that concerned Piaget primarily involved scientific problems.

What is the concrete operational stage?

As children continue into elementary school, they become able to represent ideas and events more flexibly and logically. Their rules of thinking still seem very basic by adult standards and usually operate unconsciously, but they allow children to solve problems more systematically than before, and therefore to be successful with many academic tasks. In the concrete operational stage, for example, a child may unconsciously follow the rule: “If nothing is added or taken away, then the amount of something stays the same.” This simple principle helps children to understand certain arithmetic tasks, such as in adding or subtracting zero from a number, as well as to do certain classroom science experiments, such as ones involving judgments of the amounts of liquids when mixed. Piaget called this period the concrete operational stage because children mentally “operate” on concrete objects and events. They are not yet able, however, to operate (or think) systematically about representations of objects or events. Manipulating representations is a more abstract skill that develops later, during adolescence.

Why did Piaget call this period the concrete operational stage?

Piaget called this period the concrete operational stage because children mentally “operate” on concrete objects and events. They are not yet able, however, to operate (or think) systematically about representations of objects or events.

What did Piaget study?

Piaget created and studied an account of how children and youth gradually become able to think logically and scientifically. Because his theory is especially popular among educators, we focus on it in this chapter. Piaget was a psychological constructivist: in his view, learning proceeded by the interplay of assimilation ...

What is Campbell's job?

Campbell is a middle manager for a bureaucratic organization. According to Max Weber's views on bureaucratic organizations, Campbell's function within the organization is to: . A. make key operating decisions. B. evaluate the daily performance of first-line employees.

How many campuses does Fairview Community College have?

Fairview Community College is a multi-district college with four campuses. Each campus has one president, two vice presidents, five deans, 12 department chairs, over 100 faculty members, and several persons in support roles.

What is the principle of organization?

The principles of organization state that the only company objective is to gain profits for the owner(s) or stockholders. If your competitors are cutting corners with safety regulations, you should consider the same. C. The only way to be profitable is to avoid risk.