NOTE: Free essay sample provided on this page should be used for references or sample purposes only. The sample essay is available to anyone, so any direct quoting without mentioning the source will be considered plagiarism by schools, colleges and universities that use plagiarism detection software. To get a completely brand-new, plagiarism-free essay, please use our essay writing service.
One click instant price quote
To make efficient decisions - decisions that provide the greatest possible return from the resources available -, people and society must weigh the benefits and costs of using their resources to do more of some things, and less of others. For example, to use their time effectively, students must weigh the additional benefits and costs of studying economics rather than listening to music or socializing with friends, or sleeping. School officials must decide whether to use some of its funds to buy more library books, more football helmets for the team, or more classroom equipment for teachers. Company managers must choose which products to make and whether to increase or decrease their output. It should also be noted that the government officials must decide which spending programs to increase and which to decrease (Hunting, 121). Our archaeologists claim that war originated when the cities had to protect their food surpluses from the remaining nomads.
There had been organized violence, but armies, generals, killing LARGE numbers of people came with the food surpluses (Hazlitt, 39). The people would fight for scarce land, territory, or resources. Currently, we see a very aggressive US position in Iraq, and although there is certainly a need to oust the hostile terrorist regime out of the country, the apparent US control over virtually all oil fields and the extraction of the Iraqi oil for the US consumption states that the scarcity in the USA caused this country to make such strategic choice. Instead of spending billions for the oil extraction technology that would result only in the actual oil, the war in Iraq accomplishes several purposes: it will remove the terrorist regime from the face of the earth, it will provide the USA with cheap oil, it will improve the financial health of the US companies (aircraft, military ammo, etc. ) and it will improve the US security by training soldiers to fight and by scaring the world with the US force. The scarcity of oil in the country in this case contributed to the wise decision of initiating a war that besides oil would bring other positive things to the USA instead of either trading oil or extracting oil on ones own. Therefore we agree that scarcity plays a role, but there are different kinds of scarcity.
I suffer from a scarcity of Ferraris, however I am not motivated to go to war to get one. On the other hand, if I have no food, or I am cold and have no fuel for heat... which direction do we march... Many countries, like china and Russia are notorious for the software and technology piracy. Such decision of theirs is certainly justified: the countries in order to keep up with the modern world are in need of modern technology, yet it is scarce. The countries can spend money on acquiring that technology, but in that case they would face scarcity in some other areas from which the funding was taken.
As a result, they chose the unethical / illegal mean of dealing with scarcity (Seplaki, 89). Therefore, here I believe it should be noted that in order to fight scarcity in the long run there must be exist free trade. Trade Can Make Everyone Better Off in scarce times. Consider trade that takes place inside your home. Certainly the family is involved in trade with other families on a daily basis.
Most families do not build their own homes, make their own clothes, or grow their own food. Just like families benefit from trading with one another so do countries. This occurs because it allows for specialization in areas that countries (or families) can do best.
Free research essays on topics related to: scarcity, weigh, usa, extraction, scarce
Research essay sample on Officials Must Decide Benefits And Costs Oil
