What about incentives as opposed to free offerings

Reference no: EM132400768

Discussion: Scarcity and choice are the two essential ingredients of economic analysis. A good is scarce when the human desire or need for it exceeds the amount freely available. As a result, society must choose the most efficient manner of allocation of those scarce resources.

Based upon scarcity and choice, why is it not possible for governments to efficiently provide everyone with free healthcare and free higher education without there being negative effects to the aggregate economy?

Think about society's need to choose amongst competing resources and goals. How does personal gain affect choices by individuals and government? Opportunity costs. While we want to do one thing, we can't do others based upon scarcity and opportunity costs. Resources are finite. What about incentives as opposed to free offerings?

Reference no: EM132400768

Questions Cloud

Opportunity under the law for all americans : This momentous piece of legislation promised to establish individual equality of opportunity under the law for all Americans.

The topics of week are somewhat technical in nature : The topics of this week are some what technical in nature: production and operations management and how companies use information technology

Employee misconduct and customer dissatisfaction : What role, if any, should cross-selling play in the future without running the risk of employee misconduct and customer dissatisfaction?

Employees can get a voice in the us workplace : Therefore, do you think that unions need some protection, especially when they are losing popularity, why and why not?

What about incentives as opposed to free offerings : Scarcity and choice are the two essential ingredients of economic analysis. A good is scarce when the human desire or need for it exceeds the amount freely.

Financing Tuxedo Air Expansion Plans : Financing Tuxedo Air's Expansion Plans with a Bond Issue Mark Taylor and Jack Rodwell, the owners of Tuxedo Air, have decided to expand their operations.

Why would a company want to measure share of customer : Misleading advertising material created to look like regular news stories or social media is known as?

What about products that have largely been ignored : Forecasting provides very useful projections for established products and services, but newly introduced products and services have wildly different success.

Read the ibm at the crossroads case : Will continuing the existing strategy enable IBM to achieve and sustain a competitive advantage?

User Account

All Pages