1. why is scarcity so important to the overall study of economics? 2. What is a production possibilities frontier (ppf) for an economy? explain your answers with an appropriate diagram. 3. the outbreaks of war in the middle east raises the price of petrol.use supply and demand diagram to ilustrate how this increase in the price of petrol affects the price and quantity of used hybrid car.

1. why is scarcity so important to the overall study of economics? 2. What is a production possibilities frontier (ppf) for an economy? explain your answers with an appropriate diagram. 3. the outbreaks of war in the middle east raises the price of petrol.use supply and demand diagram to ilustrate how this increase in the price of petrol affects the price and quantity of used hybrid car.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...

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Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?
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