Search results
Results from the WOW.Com Content Network
Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself". [3] "The best example is perhaps Walras' definition of social wealth, i.e., economic goods. [3] 'By social wealth', says Walras, 'I mean all things, material or immaterial (it does not matter which in this context), that are scarce ...
The affordable housing gap is a socio-economic phenomenon characterized by the scarcity of affordable housing relative to the demand for it. [25] This disparity is linked to social, racial, and economic inequality, and disproportionately affects households with lower incomes.
An economic liberal argument against artificial scarcity is that, in the absence of artificial scarcity, businesses and individuals would create tools based on their own need (demand). For example, if a business had a strong need for a voice recognition program, they would pay to have the program developed to suit their needs.
Hoarding in economics refers to the concept of purchasing and storing a large amount of a particular product, creating scarcity of that product, and ultimately driving the price of that product up. Commonly hoarded products include assets such as money, gold and public securities , [ 1 ] as well as vital goods such as fuel and medicine. [ 2 ]
Researchers in political economy have viewed the trade-off between military and consumer spending as a useful predictor of election success. [1] In this example, a nation has to choose between two options when spending its finite resources. It may buy either guns (invest in defense/military) or butter (invest in production of goods), or a ...
The examples and perspective in this section deal primarily with United States and do not represent a worldwide view of the subject. You may improve this section, discuss the issue on the talk page, or create a new section, as appropriate. (May 2024) (Learn how and when to remove this message)
The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of development.
A woman, man, and child, all dead from starvation during the Russian famine of 1921–1922. A famine is a widespread scarcity of food [1] [2] caused by several possible factors, including, but not limited to war, natural disasters, crop failure, widespread poverty, an economic catastrophe or government policies.