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Scarcity In The Canadian Economy
Beginning of essay
Canadian economy is facing an economizing problem – Scarcity. This happens when the material wants are virtually unlimited and insatiable, while economic resources – the means of producing goods and services – are limited or scarce. It is quite true that in our affluent society resources are more ....
Middle of essay
....n, is a mix economy system, with the market system predominating.
There are some ways to solve this problem. First, Canada must employs all its available resources and producing goods and services at least cost. Second, the available supplies of the factors of production are fixed in both quantities and quality. They can be reallocated, within limits, among different uses. Third, the economy is producing only two goods: consumer goods or capital goods . And last, Canada must choose among altern.... |
| Number of words: 692 |
Approximate pages: 3 |
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