Within economics, the theory of scarcity says that there are unlimited wants and a finite amount of resources. however, history has demonstrated the power of productivity to overcome the theory of scarcity. what is the economic practice responsible for overcoming scarcity? select the correct answer below: the practice of rationing economic goods by the government using meditation to get people to want less the survival of the fittest is how economics deals with scarcity division and specialization of labor, which is a theory of abundance

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.