Ask Question
BusinessBusiness
29 January, 01:40

How does scarcity affect Trey?

Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the team.

Shifts at the restaurant are scarce so Trey must find a second job in order to save up enough to purchase the car.

Positions on the school basketball team are scarce so Trey must quit his job and practice harder to stay on the team.

His uncle's car is scarce so Trey must purchase the car before demand causes the price of it to rise significantly.

+5
Answers (1)
  1. 29 January, 02:32
    0
    The answer is: All our actions and decisions are affected by scarcity. Trey must decide what actions he needs to take to maximize his well being.

    Explanation:

    By definition all resources are finite, they have a limit. Even the richest corporations in the world have a certain amount of money, no one can have infinite money. No basketball team is made up of 7 billion people, someone in the world will not be able to play basketball. Time, materials, goods, services, everything is limited, so everything is scarce.

    Trey's (and everyone else's) day is only 24 hours long, so he must decide how to divide his time to achieve the goals that maximize his happiness or well being. He must decide what is most important for him, a car or the basketball team. Time scarcity sets up a limit on the decisions we make. He must decide whether to work more to be able to buy the car, or should he stay on the team and forget about the car. Only Trey can decide based on what will make him happier.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “How does scarcity affect Trey? Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
he 2017 balance sheet of Kerber's Tennis Shop, Inc., showed $2.35 million in long-term debt, $700,000 in the common stock account, and $6.35 million in the additional paid-in surplus account. The 2018 balance sheet showed $3.
Answers (1)
The correct cost flow in a job order costing system is: a. work in process; finished goods, cost of goods sold b. cost of goods sold, work in process, finished goods c. finished goods, work in process; cost of goods sold d.
Answers (1)
In a perfectly competitive market, all producers sell identical goods or services. additionally, there are many buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are price.
Answers (1)
Long-term liability balances for the budgeted balance sheet are obtained from: Multiple Choice The cash budget and capital expenditures budget. The cash budget and sales budget. The cash budget and budgeted income statement.
Answers (1)
If the price of a product were to go down, which of the following will most likely happen? a. The quantity demanded will increase. b. The quantity demanded and supplied will stay the same. c. The quantity demanded will decrease. d.
Answers (1)
New Questions in Business
how do i make a resume im trying to get a job for the summer to make some money but i dont know how to make one
Answers (1)
Adonis Corporation issued 10-year, 8% bonds with a par value of $200,000. Interest is paid semiannually. The market rate on the issue date was 7.5%. Adonis received $206,948 in cash proceeds. Which of the following statements is true? A.
Answers (1)
Which type of group leadership has a communication pattern that flows from the top down?
Answers (1)
Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes.
Answers (1)
On March 14, Zest Co. accepted a 120-day, 6% note in the amount of $5,000 from AZC Co., a customer. On the due date of the note, AZC dishonors the note and fails to pay.
Answers (1)
Home » Business » How does scarcity affect Trey? Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the team.
Sign Up Forgot Password?