Google
Tuesday 
April 21, 2026 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
THE ECONOMIC PROBLEM: Another term for scarcity, which is the pervasive condition of human existence that exists because society has unlimited wants and needs, but limited resources used for their satisfaction. In other words, while we all want a bunch of stuff, we can't have everything that we want (see free lunch). In slightly different words, this scarcity problem means: (1) that there's never enough resources to produce everything that everyone would like produced; (2) that some people will have to do without some of the stuff that they want or need; (3) that doing one thing, producing one good, performing one activity, forces society to give up something else; and (4) that the same resources can not be used to produce two different goods at the same time. We live in a big, bad world of scarcity. This big, bad world of scarcity is what the study of economics is all about. That's why we usually subtitle scarcity: THE ECONOMIC PROBLEM.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

WORLD VIEW

An aspect of a scientific theory that includes fundamental, and unverifiable, axioms, beliefs, and values about how the world works. One example of an unverifiable world view axiom is belief in the existence of a supreme, omnipotent, omniscience being--that is, God. Political philosophies, which are essential to economic theories and policies, are intertwined with alternative world views.

Complete Entry | Visit the WEB*pedia


APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope

This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. "

-- Muhammad Ali

ICC
International Chamber of Commerce
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 ©2000-2026 AmosWEB*LLC
Send comments or questions to: WebMaster