... Savings, 65 Scarcity, 3 5 market system, 7–8Services, 4Short run, 1 05 Short-run average costs (SAC),107–109Short-run costs, 1 05 107Short-run loss, 114Short-run profit, 114Stabilizers, 58 59 Stagflation, ... imposition of high initiation fees and long apprenticeships and requirements that employ-ers hire only union members. This is done primarily by craft unions (i.e.,unions of such skilled workers ... productiveresource?Solution:a. Firms demand resources in order to produce final commodities. Itis the consumers’ demand for final commodities that ultimately gives rise136 PRINCIPLES OF ECONOMICS 130 PRINCIPLES...