Allocation of Resources :: essays research papers

Economics is the allocation of infrequent imagerys among competing ends. To some extent, roughly everything is scarce - money, food, water, dates for the prom... hardly some resources argon scarcer than others, and deserve special precaution from those with the tools to allocate them properly. Basically scarce resources can be defined as the limit a alliance has on a particular resource that is less obtainable than others which are readily attainable. Some examples of some scarce resources that are found commonly in todays society are clean air, oil, trees, coal, and natural gas. Some examples of my personal scarce resources are time, money, and energy. In a way they are all connected. I get hold of to find a way to allocate my time to make more money but yet conserve my energy at the kindred time. Now quality and fulfillment are two totally divers(prenominal) things than scarce resources. Basically it contains the essential parts that enable you to live a happy life. For me this includes such things as security (whether it be with a contrast or a significant other), money in my wallet, family and friends, and the feeling of universe successful in my endeavors. These things could also be considered needs because they are things I need to make me happy. However, my needs are limited to a few. I dont need a lot of things to keep me happy. solely the basics are all I really need. As for my regardsthats a different story. I have unlimited wants. I want many things. Having such tendencies to want and demand many things from myself helps me to obtain my goals and seek for the things I want. I dont settle for second best. If its taut to want I want I usually dont give in. I would feel like I was given something for attempting but not fully reaching the wants and goals I instill in myself. I think this applies to our economic system in a way that pot set goals in order to make the world a come apart place.The impact upon the