Our Wants With Our Limited Resources example essay topic
399 words
Throughout History, Our societies are always trying to satisfy the unlimited wants with the limited resources available. Our wants are unlimited, but our resources are scarce. Since we cannot satisfy all our wants with our limited resources, we must choose between them. People in all countries need to obtain goods and services for their daily lives. Goods such as food and shelter, and services such as health and education, are essential for our lives. While these are the basic needs essential for human survival, individual also wants a whole range of other goods and services that would make their lives easier, or give them pleasure. Because we humans tend to be fundamentally greedy, our wants are unlimited, but the means available for satisfying them are limited. Wants can be defined, as the material desires of individuals or the community. They are items that provide some pleasure or satisfaction when they are consumed. Individuals derive utility from the consumption of goods and services. People have desires for the basic necessities of life, such as food or shelter, which we can classify as needs, as well as non-essential items, such as a DVD player, an overseas holiday or expensive clothing.
Individual wants are the desires of each person. What is desired will depend on personal preferences, and how many of these individual wants can be satisfied will differ from person to person, depending on their ability purchase goods and services. Collective wants are the wants of the whole community. What is desired will depend on the preferences of the community as a whole, and not only those of the individual person. Collective wants are usually provided by the government. Our wants are unlimited.
As soon as we have satisfied one want, we will seek to satisfy another one. Because our means of satisfying wants is limited we cannot satisfy them all at once. In other words, we cannot have everything we want. Therefore, we must choose between our wants.
This means that some wants will be satisfied sooner at the expense of others. As a result, our society are always wrestling with one fundamental issue above all else, that is to satisfy the unlimited wants with the limited resources and therefore nothing changes, it's just the same old thing.
