What is Economics by Mara Hergett https://padlet.com/104313/7ug6w5309jxrlt3 en-us 2020-09-15 00:51:41 UTC 2025-10-16 12:54:46 UTC hello@padlet.com https://padlet.net/icons/png/1f4b2.png 1. Why is money not a resource? 104313 https://padlet.com/104313/7ug6w5309jxrlt3/wish/746215155 Money isn't productive. It can't be used to make something else. It can't produce anything but it can be used to acquire the productive resources that produce goods and services]]> 2020-09-15 00:54:41 UTC https://padlet.com/104313/7ug6w5309jxrlt3/wish/746215155 2. What does capital mean? 104313 https://padlet.com/104313/7ug6w5309jxrlt3/wish/746239271 Capital is NOT money. Economic Capital is anything that's manufactured in order to be used in production of goods and services. More simply it is machinery and equipment]]> 2020-09-15 01:06:23 UTC https://padlet.com/104313/7ug6w5309jxrlt3/wish/746239271 3. How can resources be used to solve the economic problem of scarcity? 104313 https://padlet.com/104313/7ug6w5309jxrlt3/wish/746249481 Resources can be used to solve scarcity by charging people for them. That way people who are serious about acquiring the resources will pay for them while those who are not will leave them  helping combat scarcity.]]> 2020-09-15 01:11:33 UTC https://padlet.com/104313/7ug6w5309jxrlt3/wish/746249481