Gain Immediate access to our Essays
FREE access exchanged for your work, or pay £9.99
Words: | Submitted: Mon Jun 19 2006
... was free, the animals that they ate were free and the water that they drank was free. These were all free goods. There were enough of these resources to fulfil all the wants of the people. Why would a person be selling fruit if everybody could just obtain it themselves for free? But as the populations in certain societies expanded rapidly the relative amounts of goods available were diminishing. People would have to compete for the goods. Therefore the goods were scarce. The dilemma was labelled the 'economic problem.' Everybody is faced with the problem of scarcity. People, businesses and governments are all daily put in the position where they have to make economic decisions. Each person will have to make the choice over which is the best way to spend the little money they have. Should they the children a cracking Christmas and then take them to Florida in the summer ...
FREE access exchanged for your work, or pay £9.99