Google
Friday 
July 11, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
CAUSE AND EFFECT: The notion that every event in the universe is the direct result of a preceding event. The purpose of the scientific method is to identify these cause-and-effect relationships. This pursuit is based on a simple point of view: everything happens for a reason, something causes an event to happen. For every action there is a consequence. And for every consequence there is a cause.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 3: Scarcity | Unit 5: THE Problem Page: 17 of 17

Topic: Summary <=PAGE BACK | PAGE NEXT=>

  • Why scarcity is considered to be THE economic problem.
  • Why economists say that there are no free lunches.
  • The pervasive problem of scarcity faced by all societies past and present.
  • How we might solve the scarcity problem through limited wants and needs or unlimited resources and why this is unlikely to happen.

Course Home | Lesson Menu | Page Back | Page Next

EMPIRICAL

Based on or relating to the collection or analysis of real world data. The term empirical is commonly used as a modifier to provide contrast with theoretical. Whereas theoretical refers to abstract representations, empirical indicates actual real world observations.

Complete Entry | Visit the WEB*pedia


APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for the last item on a shelf.
Your Complete Scope

This isn't me! What am I?

Three-forths of the gold mined each year is used to manufacture jewelry.
"If anything terrifies me, I must try to conquer it. "

-- Francis Charles Chichester, yachtsman, aviator

ASEAN
Association of South East Asian Nations
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster