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Scarcity - Definition Scarcity refers to the fact that resources are finite - people and organizations need to allocate their finite resources between their infinite wants. Each year, the world produces more goods and services, along with better technologies and processes that can increase output farther. Even with this growth, there will always be scarcity, because there will always be the question of the best way to allocate the resources we have available. Allocating Resources Each person… Read More...
Personal Finance
Planning Long-Term Purchases - When you are evaluating how to spend your money, most people make a fairly simple comparison – if the benefit you think you will get from the purchase is bigger than the cost, then most… Read More...
Receipts – Keeping and Tossing - When you are getting your financial records organized, it is important to keep track of your spending, and with your spending comes receipts. If you think about a typical shopping trip, it is easy to… Read More...
All About Sales Tax - What Is Sales Tax? “Sales Tax” is a tax that is charged on goods sold to end customers. The Sales Tax is a set percentage of the price of the goods sold. In the United… Read More...
Wealth - Definition of Wealth “Wealth” means having an abundance of something desirable. This can be tangible, like money and property, or intangible, like good health or freedom. Intangible Wealth Just because something does not have a… Read More...