Even if all resources are freely available, will consumers demand things be made more convenient than in their 'raw' form? Would this produce a need for economics?© BrainMass Inc. brainmass.com June 4, 2020, 1:24 am ad1c9bdddf
This is actually a trick question. Here's why -
Let's look at what would produce no need for economics.
Economics, at its most basic foundation, is the study of how people choose to use resources that are scarce to "produce, exchange, and consume goods and services in an attempt to satisfy unlimited wants." As McEachern has determined, the ...
The solution provides a detailed discussion on the need for economics if all resources are freely available.