which scenario describes sutdying for an economics course without applying the scarcity principle

Which question is concerned with the tradeoffs that emerge because of scarcity?

Mar 24, 2019 · Which scenario describes studying for an economics course WITHOUT applying the scarcity principle? a. I study two hours for every one hour I am in the classroom. b. I study three afternoons a week until I understand the material or until dinner, whichever comes first. c. I study with my roommate, who is also taking the course, and we discuss economic concepts …

What is scarcity in economics?

14. Which scenario describes studying for an economics course without applying the scarcity principle? a. I study two hours for every one hour I am in the classroom. b. I study three afternoons a week until I understand the material or until dinner, whichever comes first. c. I study with my roommate who is also taking the course, and we discuss economic concepts during …

What is the study of Economics?

Question 3 2 out of 2 points Which scenario describes studying for an economics course without applying the scarcity principle? Selected Answer: I study for this course and do nothing else. Question 4 2 out of 2 points Indirect incentives create:

Why are economists needed to make sure that the government doesn't?

What are the negative incentives for driving?

Some possible answers would include making it illegal to drive and do other things at the same time , and the negative incentive would be avoiding a traffic ticket and fine. Another negative incentive might be setting up cameras to take pictures of people driving and talking on the phone at the same time, and the pictures being made public. Another negative incentive might be making mandatory the installation in cars of equipment that interferes with a cell phone signal, so that using the phone in the car becomes inconvenient.

How does market environmentalism work?

Market environmentalism is a way by which firms can profit by polluting less. As they create less pollution, they can sell their right to pollute to others and thereby capture additional revenue (and perhaps reduce their costs as well because they employ more efficient technology). Firms don’t care directly about preserving the environment. Rather, they are given a positive incentive not to pollute by increasing their profit. The alternative would be to provide a negative incentive not to pollute through the use of fines and government regulations (through an organization like the Environmental Protection Agency).

How does the internet help the economy?

The Internet has certainly done a great deal to encourage economic growth: those who are creative and those who invent something now have a way to sell their product to a larger set of individuals and thus face a positive incentive to sell their work and products over the Internet. The Internet has also made it more convenient to buy things and has provided a positive incentive to consumers to consume more. There has been some discouragement of economic growth through negative incentives provided by the Internet. With the use of the Internet, there has been more theft of digital music, movies, and ideas. These thefts provide a negative incentive for creative and inventive individuals.