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State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".?
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State along with reason whether the following statement is true or fal...
Answer:
Statement: A free medicine given to the patients in a hospital is not a scarce commodity.
Answer: False
Explanation:
A commodity is said to be scarce if it has limited availability or supply. A free medicine given to the patients in a hospital is not a scarce commodity because it is being provided for free and there is no cost associated with it. However, the statement is false because even though the medicine is being provided for free, it is still a scarce commodity due to the following reasons:
- Limited availability: Even though the medicine is being provided for free, it is still a scarce commodity because the hospital has a limited supply of the medicine. The hospital may not have an unlimited supply of the medicine, which means that it is a scarce commodity.
- Demand and supply: The demand for medicine is always higher than the supply. Even if the hospital has a large supply of medicine, it may not be enough to meet the demand. This makes the medicine a scarce commodity.
- Time: The availability of the medicine is limited to a certain period of time. Once the medicine is given to the patient, it cannot be reused for another patient. This makes the medicine a scarce commodity because it has limited availability over time.
Therefore, even though the medicine is being provided for free in a hospital, it is still a scarce commodity due to its limited availability and demand.
Statement: A free medicine given to the patients in a hospital is not a scarce commodity.
Answer: False
Explanation:
A commodity is said to be scarce if it has limited availability or supply. A free medicine given to the patients in a hospital is not a scarce commodity because it is being provided for free and there is no cost associated with it. However, the statement is false because even though the medicine is being provided for free, it is still a scarce commodity due to the following reasons:
- Limited availability: Even though the medicine is being provided for free, it is still a scarce commodity because the hospital has a limited supply of the medicine. The hospital may not have an unlimited supply of the medicine, which means that it is a scarce commodity.
- Demand and supply: The demand for medicine is always higher than the supply. Even if the hospital has a large supply of medicine, it may not be enough to meet the demand. This makes the medicine a scarce commodity.
- Time: The availability of the medicine is limited to a certain period of time. Once the medicine is given to the patient, it cannot be reused for another patient. This makes the medicine a scarce commodity because it has limited availability over time.
Therefore, even though the medicine is being provided for free in a hospital, it is still a scarce commodity due to its limited availability and demand.
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State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".?
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State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".?.
State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for State along with reason whether the following statement is true or false, " a free medicine given to the patients in a hospital is not a scarce commodity".?.
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