Economy, asked by blackbarbie1917, 8 months ago

difference between welfare and scarcity in economics​

Answers

Answered by nath12849
5

Answer:

Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.

Welfare economics is the study of how the allocation of resources and goods affects social welfare. ... However, welfare economics is a subjective study that depends heavily on chosen assumptions regarding how welfare can be defined, measured, and compared for individuals and society as a whole.

Answered by Anonymous
2

Answer:

ᴡᴇʟғᴀʀᴇ

ᴡᴇʟғᴀʀᴇ ʀᴇғᴇʀs ᴛᴏ ᴀ ʀᴀɴɢᴇ ᴏғ ɢᴏᴠᴇʀɴᴍᴇɴᴛ ᴘʀᴏɢʀᴀᴍs ᴛʜᴀᴛ ᴘʀᴏᴠɪᴅᴇ ғɪɴᴀɴᴄɪᴀʟ ᴏʀ ᴏᴛʜᴇʀ ᴀɪᴅ ᴛᴏ ɪɴᴅɪᴠɪᴅᴜᴀʟs ᴏʀ ɢʀᴏᴜᴘs ᴡʜᴏ ᴄᴀɴɴᴏᴛ sᴜᴘᴘᴏʀᴛ ᴛʜᴇᴍsᴇʟᴠᴇs. ᴡᴇʟғᴀʀᴇ ᴘʀᴏɢʀᴀᴍs ᴀʀᴇ ᴛʏᴘɪᴄᴀʟʟʏ ғᴜɴᴅᴇᴅ ʙʏ ᴛᴀxᴘᴀʏᴇʀs ᴀɴᴅ ᴀʟʟᴏᴡ ᴘᴇᴏᴘʟᴇ ᴛᴏ ᴄᴏᴘᴇ ᴡɪᴛʜ ғɪɴᴀɴᴄɪᴀʟ sᴛʀᴇss ᴅᴜʀɪɴɢ ʀᴏᴜɢʜ ᴘᴇʀɪᴏᴅs ᴏғ ᴛʜᴇɪʀ ʟɪᴠᴇs.

sᴄᴀʀᴄɪᴛʏ

sᴄᴀʀᴄɪᴛʏ ɪs ᴛʜᴇ ʟɪᴍɪᴛᴇᴅ ᴀᴠᴀɪʟᴀʙɪʟɪᴛʏ ᴏғ ᴀ ᴄᴏᴍᴍᴏᴅɪᴛʏ, ᴡʜɪᴄʜ ᴍᴀʏ ʙᴇ ɪɴ ᴅᴇᴍᴀɴᴅ ɪɴ ᴛʜᴇ ᴍᴀʀᴋᴇᴛ ᴏʀ ʙʏ ᴛʜᴇ ᴄᴏᴍᴍᴏɴs. sᴄᴀʀᴄɪᴛʏ ᴀʟsᴏ ɪɴᴄʟᴜᴅᴇs ᴀɴ ɪɴᴅɪᴠɪᴅᴜᴀʟ's ʟᴀᴄᴋ ᴏғ ʀᴇsᴏᴜʀᴄᴇs ᴛᴏ ʙᴜʏ ᴄᴏᴍᴍᴏᴅɪᴛɪᴇs. ᴛʜᴇ ᴏᴘᴘᴏsɪᴛᴇ ᴏғ sᴄᴀʀᴄɪᴛʏ ɪs ᴀʙᴜɴᴅᴀɴᴄᴇ.

hope it helps uhh

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