Monday 15 September 2008

Scarcity and Choices.

According to The Independent Newspaper in 2000, there was a shock at the growing number of Foreign nurses in the UK. Why was that? Maybe there werent enough nurses, so that they need more nurses from Foreign countries ?

Economics is always about Scarcity and Choices. Scarce also called Finite, which it has limited resourse if we call it. People's needs and wants are vast, but there's something really different between NEEDS and WANTS.

We need our clothes to keep us nice and warm, food for daily supplies, also water for our basic health...etc. But what about WANTS? To say the truth, things that what we want are only what we've been desired, which is unlimited or as we call it infinite.

Economics is a Sceince studying the relationship between scarce resources and unlimited wants. Yes, and this is what make things interesting!

2 comments:

chris sivewright said...

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