Thursday, 22 October 2009

Homework: economic problem


Is it possible to have no scarcity?
I think yes,but in theory...: imagine you live in a separate island,you are in "paradise", you need only food and water,that's all,if that all you need,so there will be particulary no scarcity....but through a time it can become boring,just to live without fun,you will need something more,something exiting or....whatever...therefore your needs will raise with the time going,so through some time there will be scarsity of resources...
In real life,I think there will be always scarcity,and the time going the more scarcity,more needs,And in near future there will be energy crisis...Even now there is a lack of oil,and more and more firms(ex:automobile industry:more companies are making a cars with a hybride engine),the oil prices also goes up rapidly.
SO in my opinion,it is not posible to have absolutely no scarcity.

Is it likely that some wants will never be satisfied?
Yes,maybe some of the wants will never be satisfied. Because some wants(like if everyone wants to by an expensive sport car or personal plane),but it is not possible, only some of the people can afford it to themselves,because they don't have a scarsity of money.Also the majority can't buy everything they want...As it is said in the article: "But, here in the West, the more we have, the less satisfied we seem to be."

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