Economics: the Study of How People Use Their Limited Resource
Need help with my writing homework on Economics: the Study of How People Use Their Limited Resources. Write a 1500 word paper answering; The problem is that though our wants and desires are unlimited however means to satisfy them are limited therefore in order to satisfy our needs, we must make choices to rationally utilize our means to achieve our desires.
Resources are considered as scarce when it is not sufficient to satisfy any wants and since resources are scarce therefore people must make choices among their desires. It is however, also critical to note that in order to choose one choice, we have to often forgo our other choices too because in our given resources, we may not be to satisfy all our wants and desires. The role of economics emerges at this point because it tells individuals as to how to use our resources to satisfy our wants.
Resources are the very inputs which are utilized to manufacture and produce goods and services that we want. The resources are also called factors of production as they are used to produce the goods and services that we want. These resources can be broadly categorized into four bigger categories of labour, capital, land and entrepreneurial ability.
Labour, as an input, is probably one of the most controversial resources in economics because it comprises of the human effort which is used to produce any good or service. It is important to note that human effort comprises both physical as well as mental efforts. Further, labour as a source of production itself has been driven from time as time is considered as the ultimate raw material of all the time. Time is also critical in the sense that it is limited and one has to accomplish as many tasks as one can under a given time period therefore time must be combined with different other resources specially labour to produce the desired outcomes.
Capital is also one of the most important factors of production which basically represents human effort to produce any good or service.
Thank you. I will get back to you next week. There are more classes that I need help.
Client #23605
Verified order
Thanks a lot. All good
Client #0
Verified order
I loved the service it was really fast & efficient. I ended up with an A in my class!
Client #0
Verified order
It was a pleasure working with you. You are really responsible and always do you’re best and of course, we will keep working together.
Client #23592
Verified order
The essay and the Excel file looks good. Thank you for working with me throughout the project.
Client #23592
Verified order
Thank you for the quick help. I was stuck.
Client #23594
Verified order
You are a lifesaver. Thank you. I will be needing your help for the midterm exam.
Client #23594
Verified order
I am very grateful for your help. Without you, I would have quit a long time ago. Appreciate your help 100%.
Client #23599
Verified order
I know it is APA 7 and it should not have the running headers, but my professor insists on them. Please include them in the upcoming orders. Overall, I liked it and I will be submitting it tonight. Thank you.
Client #23596
Verified order
Thank you for the help. All good.
Client #23595
Verified order
You do an exceptional job, have gotten good grades n positive feedback/ comments from my professors since you started helping me.
Share all the assignment information. Including the instructions, provided reading materials, grading rubric, number of pages, the required formatting, deadline, and your academic level. Provide any information and announcements shared by the professor. Choose your preferred writer if you have one.
Get Your Order Assigned
Once we receive your order form, we will select the best writer from our pool of experts to fit your assignment.
Share More Data if Needed
You will receive a confirmation email when a writer has been assigned your task. The writer may contact you if they need any additional information or clarifications regarding your task
Let Our Essay Writer Do Their Job
Once you entrust us with your academic task, our skilled writers embark on creating your paper entirely from the ground up. Through rigorous research and unwavering commitment to your guidelines, our experts meticulously craft every aspect of your paper. Our process ensures that your essay is not only original but also aligned with your specific requirements, making certain that the final piece surpasses your expectations.
Quality Checks and Proofreading
Upon the completion of your paper, it undergoes a meticulous review by our dedicated Quality and Proofreading department. This crucial step ensures not only the originality of the content but also its alignment with the highest academic standards. Our seasoned experts conduct thorough checks, meticulously examining every facet of your paper, including grammar, structure, coherence, and proper citation. This comprehensive review process guarantees that the final product you receive not only meets our stringent quality benchmarks but also reflects your dedication to academic excellence.
Review and Download the Final Draft
If you find that any part of the paper does not meet the initial instructions, send it back to us with your feedback, and we will make the necessary adjustments.