Essay About Much Income And Articles

Economics – Unemployment
Economics – Unemployment
These three articles I can relate to very well. In the article, “Why Johnny Cant Choose”, he talks about scarcity and a persons needs and wants. I agree that people needs and wants exceed the resources to fulfill them. When I go shopping for anything I take on opportunity cost, will I be giving up my money for something I need or want and 85% of the time its something I need. When Im shopping I often ask myself do I really need this or do I want this. “There is no such thing as a Free Lunch”, this is very true I have this fight with my self about how much income to save and how much to spend every pay day or how much loans I have to take out for school. Everyday there is a decision made to give up something I want to get something I need, which is opportunity cost. In the article “They Clapped”, this article I cant relate to personally being that I had experienced the worse hurricane in my life yet to come which was hurricane Andrew. In this time of need I experienced scarcity, price gouging, supply and demand and opportunity cost. Ice and food, and water were scarce. We had to wait on trucks to bring in ice and food and when they did arrive in the community you had to be one of the first in line or there wasnt enough to go around. I watched