Concepts of Resources and Scarcity

Concepts of Resources and Scarcity Resources and scarcity, resources means to provide or equipment that is needed. Scarcity means limited or short supply. The definition by Lionel Robbins says that our resources are limited but humans need is unlimited. As a human we never get enough of things. For example, now i own a proton car but later, will wish to have other bigger car. As we all know humans have unlimited desire. And also its very hard to satisfy their wants. Economics is defined as a study of resources to satisfy humans unlimited wants. Economics plays an important role in our daily life. For example, if a price of a product increases it will affect the economics of the country and also the people there. It is important to have or maintain a stable economics in the country. Economics plays an important role in every individual. Besides this, resources are important elements. There are few important elements which are known as the factors of production which are capital, land, labor and entrepreneur. Each element plays an important role in the country economics and also to satisfy humans unlimited needs and wants. The factors of production are divided to 3 main parts which is Humans Resources, Natural Resources and also Manufactured Resources. Firstly, about Human resources, human resources is known as labor. Labor is known as employees who work to made or produce. It is important to know about the abilities of the labor or workers. We should understand their level of abilities and use their skills wisely. Labor help to improve the standard of the country and the satisfy of humans unlimited needs and wants. For example, there will be engineers with a lot of potential, so the employer should understand and use the employee skill wisely to improve and also maintain the production of the country and the economics too. Secondly, i will discuss about land. Land is also an important element in the resources, without land there is nothing. Land is a place where we can get timber, minerals and also natural resources to continue living. By having land we can get all the natural resources. It also knows that in our country Malaysia we are rich in natural resoures, such as minerals and timber. Furthermore capital is also one of the factors of production. Capital is known as a good or services. Example of capital is machines, tools and etc. It is important to have this machines and tools to further with production. Capital is to have a better produced of goods or services. And entrepreneur an entrepreneur is an organize an also an entrepreneur is a person who introduces to new product, and techniques and also entrepreneur must be a person who willing to take risk. These are the four main and important factors, but to fulfill humans needs and wants this is not enough cause humans always have unlimited wants and needs to be fulfill their needs. Moreover by the help of the three questions, it will be much easier to solve this problem. The questions are how to produce, to whom to produces and what to produce. By following this question human can make a choice of what they want. For example, humans have to identify the wants and make a choice. Making a choice may be hard but humans have to make a choice, based on how much they have. How much can their afford. Choice is an important decision that humans have to make. Choice in the food, goods and etc. By making a choice humans tend to satisfy their needs and wants. Capital is define as a good that be used in a business to generate the income of the business. Capital is an important element in a business. Capital is also known as money or property that used in a business. Capital is a money that humans use to develop their business. Without capital there will be no way to develop or invest the business. Capital used to produce either goods or services. For example Capital refers to machines or tools in an company. Without the machines or tools cannot produce or create. For examples cars, there are machines and tools that had been created to make cars, without the machines the car cannot be created or made. Just with machines job is done faster and easily. Capital also depends on what kind of capital that humans refers either in a form of money or machines. Money is also known as capital. To produce or start a business, we need capital in which in the form of money. To start a small or big business firstly we need capital, without a capital we cannot start the business. Even it is a small amount of money it is still considered as a capital. To start the business we have to have enough of money. Capital also can be property. If property that you own can be a capital. It can be a small piece of land which we can use to start a business. Capital is always refers to something that you put in to get the output, as you can say by putting the input which is capital and you get a output. Without input there will not be any output. The input plays a major role in getting a good output. Capital is a strong and important element to start a business or to produce. We should have a enough of capital before we start to produce or starting a business. Capital is money or machines that have a value to get a good output in the process. Capital also can be identity as a income. For example capital is something that has a value by its own. Income is important in starting a business or doing any production. Furthermore, land is defined as then surface of earth. Land is a beautiful nature resource. Land has its own advantages such as soil, land, and also minerals and timber. Land is important to start a business because without having a land its hard to start a business. Land does not only refer to the upper part but land has its own minerals rivers and etc. In the four factor of production, land is known as one of the factor. The soil in the land has a high quality. Land is depending on which kind of land is it and also where it is located. Some land is really very rich with the minerals, which can be used to produce minerals and etc. Land of ground as be known as property, estate. Business man who wants to open a factory of company will be looking for a land. For example a business man wants to open a shopping mall. The business man will be looking for a invest land or a land where is located in the centre or the town, it also will be a place to attract customers. For example the land owner can be use the land as a invest in it. Land is need for building or known as a property. Land is also can be say as a investments. Land in a good area will be a good investments place for business. Labor is define as a employees or a worker. Labor is an important elements for work to be done. To identify labor the employer has to understand the workers skills and their liabilities and their knowledge of the job. It is important to known employees physical and mental effort on the job there has. Employer has to know his or her employee liabilities before a task. Entrepreneur is define as business man who is willing to take risk in the business they are doing to have either profit of loss. As a entrepreneur he or she has to face the problem. A entrepreneur have to be a person who is very organizes person and also should have the creative in introduces new product. In the business world an entrepreneur has to be fast and also smart in handing problem. These are all the resources that we have in our Malaysia. All this factors are limited. And cannot produce more. But the needs and the wants of the humans are unlimited. As the say of Lionel Robbins which is true that humans always have unlimited of wants which is hard to satisfy. To solve this problem, by using the 3 question which is what to produces, how to produces and to whom to produces. Humans have to make a choice on what they really want and what is really very necessary in their life. Humans have to make the right choice and be happy with it. Opportunity cost plays an important role here. Opportunity cost for example in choosing the right this in food or clothes. Make a decision whether can afford it or not. Make a choice based on the money have and it also must fulfill the needs and wants as well. And also have to do sacrifice one of the needs to fulfill the needs. Opportunity plays a role in our daily life. For example in everything we have to make choice. From what we want to eat to what we want to wear we make a choice. Opportunity choice is made from what we can afford. To solve this economics problem humans have to make the choice cause its hard to satisfy everyone needs and wants with the limited resources. QUESTION2 INTRODUCTION Malaysia is mixed economy country. Mixed economy is known as government intervention in the country. Government intervention means governments interfere in the activities in the production and also distribution. Mixed economics is also known as a balanced economy. Mixed economy is government and markets take the decisions. Mixed economy is a good plan cause by the help of the government price mechanism is control. Price mechanism is define as its a generally between the supply and demand. For example went there is more demand the price of that product will go up. And went the demand goes down the price also goes down too. Price is define as the market value, the price of purchase. Price mechanism is a change according to the demand and supply. For example during raining season the price of vegetables will increase because there will be demand for the vegetables cause during raining season its hard to get vegetables. And the seller will try to sell at the higher price here where government interfere and control the price. Price is divided to two parts which is price floor and price ceilings. A Price floor is the lowest price. Price floor is done by government. Government will control so that the price of the product will not go very low. This is the way how government controls the price mechanism. Price ceilings are government puts a stop for the price of the product go too high and cannot be control. Government tends to control or put a limit to the price or the product. Examples of price floor and price ceilings are (rice, flour. petrol, sugar and etc.) The ways governments interfere. Government intervention by controlling the price of the product in the country. Each product have a standard price and government help that the product are not sell in higher price. If the product is sell in a higher price, the buyers will feel hard to buy it, by the government intervention it will help to control the price of the products. For example the price of rice, if the price of the rice increase the people who have a normal salary will feel hard to buy the rice. It will affect the country economy as well. In other ways government intervention is by giving pension to the employees after they at reach age of 60. Pension helps the employees who are retired. Besides this, government intervention by involves in social activity such as helping the (float victim) by giving them shelter and also basic needs such as food and drinks. Government also helps the poor. Government helps by giving them education. In Malaysia government gives education from standard 1 to right up to form 5. Government also gives important to environmental issues such as reduced of plastic. For example in Malaysia government has introduces not to use plastics bags on Saturday. Besides this, government encourages to use recycle bags. Government plays an important role to control the price mechanism by using the price floor and price ceilings. The price of goods rises because of the demand on the product. And also this will create a shortage in the market. To overcome this problem government has to control the price the goods every time. Government has to put a price list to solve this problem. By controlling the price government also controls the waste. As Malaysia is a mixed economy the control of price is important. By the government interfere it will help the country to have a stable economy. And the people have a control economy in the country. To solve this problem government has to control the price mechanism.

Protection and Freedom: Why We Need Our Right to Bear Arms Essay

Fourteen-year-old Jessica Carpenter was left to babysit her younger siblings while her parents were running errands the morning of August 23, 2000. Armed with only a pitchfork, Jonathon David Bruce, who was high on drugs, entered the home and began chasing and stabbing the children. Jessica’s father had taught her how to use a firearm, but she could not access the gun because it was locked up in accordance with California state law. She was left unprotected and unable to defend herself and her family (Pratt). Situations like these are why it is necessary for our right to bear arms to not be infringed. Guns, when allowed to be carried by citizens, can cause a decrease in crime. â€Å"If a criminal thinks his potential victim may be armed, he may be deterred from committing the crime† (Freakonomics) The right to bear arms is necessary because it is constitutionally protected under the second amendment, leads to safer communities, offers personal protection, and because gun control is essentially impossible and would only lead to a false sense of security. One of the main arguments used by proponents of gun control against the right to bear arms is that guns kill people. There are several circumstances in which guns are used to cause death: accidents, protection, and murder. As humans, we are prone to make mistakes. Sadly, mistakes with a gun can cost a life, and unfortunately, these mistakes cannot always be avoided no matter what safety precautions are taken. Murder, on the other hand, is not a gun’s decision. Whether the act was premeditated or not, it was the actions of the person with the gun, not the weapon. Therefore, an appropriate slogan is â€Å" Guns Don’t Kill People, People Kill People,† which is now the official slogan of the National Riffle Association (NRA). Lastly, guns are needed for protection. A gun is used to protect an individual from another individual, a group or the government. Often we see where a store clerk used a gun to shoot an armed person who was trying to rob him, or where a homeowner has shot a burglar. In addition, there were no means for the Jews to protect themselves from the Nazis during the Holocaust. The German government was corrupt, and the Jews were not allowed to have guns, or any other form of protection, and, therefore, had no means to defend themselves. Because of the lack of any means of self-protection, millions of innocent people died. The Constitution of the United States is based-off of John Locke’s â€Å"Social Contract,† which in essence says that the citizenry has a right to revolt against their government if it is corrupt. It is the government’s duty to fulfill our right to self-preservation. The government’s role is to protect us, and we also have a right to protect ourselves; taking away the right to bear arms restricts the ability to protect oneself. Being able to protect oneself, being armed, decreases the likelihood that a crime will be committed against that person. The Second Amendment was added to the Constitution on December 12, 1792. It stated, â€Å"A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear arms, shall not be infringed†(Constitution). â€Å"Gun control proponents have argued that the use of the word ‘people’ in this Amendment refers not to the civilian population of the United States, but to the State National Guard Units.† (Agresti). James Madison, who was responsible for proposing the Second Amendment, argued, â€Å"that a standing federal army could not be capable of conducting a coup to take over the nation. He estimated that based on the country’s population at the time, a federal standing army could not field more than 25,000 – 30,000 men† (Agresti). This means that if the government were to be attacked, the citizenry would have to have protection from tyranny. The citizenry would have protection against the crime of tyranny because it would be armed. Therefore, revoking a citizen’s right to bear arms is not only a constitutional violation, but also threatens the freedoms of Americans. If we as citizens of the United States allow our Second Amendment right to be restricted, it only sets a precedent for other rights, such as the freedom of speech or freedom of the press, to be restricted as well. The essential purpose of the Constitution of the United States was to set limitations on the powers of government rather than grant them powers. The founders believed that the true obligation was to the citizens, and thus the bill of rights was created in order to protect individual freedoms. By mandating the control of firearms, the government is removing the Second Amendment’s guaranteed right to self-protection, and consequently allowing its citizens to be predisposed to criminals. The right to bear arms helps maintain the safety of society. This security is established through a simple apprehension of not knowing who is armed and who is not. While there are other means of protection, carrying a gun is a basic, Constitutional right, and every person is entitled to receive the most amount of protection possible. It is also evident in other countries how gun control negatively affects society. Countries that have strict gun control measures have a much higher crime rate than countries that allow its citizens to have guns. For instance, â€Å"In 1900, when England had no gun controls, the homicide rate was only 1.0 per 100,000. Moreover, using data through 1996, the U.S. Department of Justice study ‘Crime and Justice’ concluded that in England the robbery rate was 1.4 times higher, the assault rate was 2.3 times higher, and the burglary rate was 1.7 times higher than in the U.S.† (Halbrook). Laws were passed in England in 1953 and 1967 made it illegal for any person to carry a weapon (Waters). This shows that when citizens are legally allowed to posses and carry a gun crime rates are lower.

Have No Time to Cook and Forced to Eat Junk Food Healthy Snacks is the Answer!

Among the many problems, students facing the issue of nutrition is rarely placed in the top ten; yet if you ever had a considerable backlog of studies to catch up, you probably know how it is: dozens of tasks to do and barely any time to eat, let alone spending time on cooking or even thinking about preparing something that would go any further than sate your immediate hunger. Junk food boasts to be a handy rescue, but those who really benefit from it are marketing agencies, while their nutritional properties are poor, to say the least. And even if substances found in many junk foods are not outright dangerous (there’s still controversy on this subject), these snacks do a poor job at keeping you in top shape. Mostly they contain carbs that’ll give you a short-lived energy boost – a sugar rush, but you’ll soon be peckish and fatigued again. What your body really needs is products rich in fiber and high-quality oils that will provide energy that will last you a long time. In this situation your answer may lie in healthy snacks: they don’t require any time to cook and may be eaten on the go, without stopping your studies for a minute and will give you enough strength to go on. Dried fruit, nuts, wholegrain products, granola bars, berries and many more varieties – take your pick. Of course, such things may be hard to find, especially if you have never been interested in them before. In such  situation one of many snack delivery companies may come to your rescue – basically you order a set of snacks you choose on your own from them, and they deliver them to you, either on a regular basis or when asked to do so. The range of products in some of them encompasses hundreds of different kinds of snacks suited for all kinds of food-conscious eaters, including vegan and gluten-free options. Many of snack delivery companies offer free trials, allowing you to choose several snacks to try before you place a full order – thus you will be able to understand if they are worth their cost and if this way of eating suits you at all. In the long run, healthy snacks not just satiate your hunger but produce numerous positive effects, improving your health, making you more alert, enhancing brain function and memory (and what can be better before an especially difficult exam?) and decreasing your need for sleep – win all around. And, when all is said and done, these snacks are not only healthy, wholesome, energy-rich and easy-to-use, but also quite tasty. If you’ve never tried them before, their tastes may seem unusual and even weird at first, but one quickly gets used to good things – and once you’ve started eating healthy snacks on a regular basis, there is just no going back to potato chips, burgers and choc bars.

Epicurus And John Stuart Mill - 967 Words

In part one of our book, â€Å"The Good Life,† we studied five different philosopher’s viewpoints on what is needed in order for a person to have a good, fulfilling life. They all included the concepts of pleasure and happiness to some extent in their theories, but they all approached the ideas in different ways. The two hedonists we studied, Epicurus and John Stuart Mill, place heavy emphasis on the importance of pleasure. They both believe that pleasure is a necessity in the ideal life. Jean Kazez agreed with their viewpoints in her theory and said that happiness was a necessity for a good life. Epicurus and Mill also argue that there is nothing else that we ultimately desire beyond pleasure and that it is an intrinsic good. According to hedonism, pleasure is the most important good and the ultimate goal in life. Epicurus states that pleasure is in intrinsic good. Mill agrees with him, but along with Kazez, says that happiness is also an elemental good. In Epi curus’ theory, he defines pleasure as the absence of pain. Mill also uses this definition, but applies it to happiness as well. Therefore, we can agree on a definition for the two terms that makes sense: happiness and pleasure are both the absence of pain. According to Mill, happiness and pleasure are correlated. He says that happiness is the existence of pleasure. This is what drives all of our actions and desires. We desire things because it will bring us pleasure in some way and we avoid things becauseShow MoreRelatedHappiness And Happiness1736 Words   |  7 Pagesimportant miniscule differences in them that separates them from each other but overall share the same concept of happiness. Key words:Utilitarianism, Modern utilitarianism, Classical Utilitarianism, Act/Rule utilitarianism, Jeremy Bentham, John Stuart Mill Utilitarianism The Utilitarianism philosophy’s concept is mainly characterized by two elements: happiness and consequentialism. According to the utilitarian philosophy, utilitarian happiness is most desired by humans and everythingRead MoreJohn Stuart Mill s Utilitarianism1642 Words   |  7 Pageswide range of interpretations, as well as having no clear meaning. John Stuart Mill, an English philosopher, based his controversial sentiments of happiness on Jeremy Bentham’s utilitarianism, believing that goods are the means to greatest happiness for the greatest number of peoples. Epicurus, an Ancient Greek philosopher, who similarly encouraged people to follow his pleasure based philosophy to obtain happiness. Unlike Mill, Epicurus’ philosophy is based on individualistic hedonism, which often mayRead MoreUtilitarianism, And Principle Of Utility1319 Words   |  6 Pagesappetites and, when once made conscious of them, do not regard anything as happiness which does not include t heir gratification.† (Mill, 332) There have been many philosophers who have taking up the topic of utilitarianism, but one that defines the quality of pleasures along with defining that there are actions behind picking those pleasures would be John Stuart Mill. Mill in his years of talking and discussing utilitarianism disagreed and agreed with philosophers and had a model. In this essay theRead MoreThe Theories Of Pleasure And Ethics1544 Words   |  7 PagesHuman beings can be pleasured in many different ways such as mentally or sexually. Everyone has different but shared values of ethics and how happiness is needed to fuel morality itself. Some interesting gentlemen such, Friedrich Nietzsche and John Stuart Mills were important influential philosophers from the early 19th century. I’ll be comparing both philosophers’ theories of pleasure and ethics. Also, I’m going to focusing on the major similarities and differences they individually perceive on bothRead MoreHedonism : Utilitarianism And Ancient Hedonism1255 Words   |  6 Pages(Rule). There are two major philosophers who developed and explained these two types of utilitarianism. They had different views on happiness and what happiness requires. John Stuart Mill, an English philosopher explained rule-utilitarianism. Mill explained how he believes that pleasure can vary in quantity as well as quality. For Mill there are high pleasures and low pleasures. Low pleasures may be all those temporary pleasures, the ones that are inferior; in the other hand, high pleasures are the onesRead MoreUtilitarianism, Or The Greatest Happiness Principle1407 Words   |  6 Pagesunderstanding of what Utilitarianism is can be gained by John Stuart Mill’s characterization of what it is not. He states, â€Å"I believe that the very imperfect notion ordinarily formed of its meaning, is the chief obstacle which impedes its reception; and that could it be cleared, even from only the grosser misconceptions, the question would be greatly simplified, and a large proportion of its di fficulties removed† (Mill, 2007, p. 4). In defining Utilitarianism, Mill dispels common misconceptions that are heldRead More »Explain Why Mill Distinguishes Between Higher and Lower Pleasures and Assess Whether He Achieves His Aim or Not. «1501 Words   |  7 PagesPY1101 Ethical Theory  »Explain why Mill distinguishes between higher and lower pleasures and assess whether he achieves his aim or not. « March 2005, St Andrews In his Essay Utilitarianism Mill elaborates on Utilitarianism as a moral theory and responds to misconceptions about it. Utilitarianism, in Mills words, is the view that  »actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. «1 In that way, Utilitarianism offers anRead MoreUtilitarianism, by John Stuart Mill Essay1393 Words   |  6 PagesExplain why Mill distinguishes between higher and lower pleasures and assess whether he achieves his aim or not. In his essay, Utilitarianism Mill elaborates on Utilitarianism as a moral theory and responds to misconceptions about it. Utilitarianism, in Mill’s words, is the view that  »actions are right in proportion as they tend to promote happiness, wrong as they tend to produce the reverse of happiness. «1 In that way, Utilitarianism offers an answer to the fundamental question Ethics is concernedRead MoreUtilitarianism : The Greatest Happiness Principle1574 Words   |  7 Pagesand could be traced all the way back to the Epicureanism of the followers of the Greek philosopher, Epicurus (Mastin 2008). However, it wasn’t until the 19th century when utilitarianism began to gain its popularity and became fully developed and articulated. This is also around the time that utilitarianism began to separate into two separate branches, Rule Utilitarianism and Act Utilitarianism. John Gay (1699-1745) and Richard Cumberland (1631-1718) are a couple of gentlemen who are known for beingRead MoreJohn Stuart Mill s Utilitarianism1553 Words   |  7 PagesJohn Stuart Mill begins the explanation of his version of Utilitarianism by replying to common misconceptions that people hold regarding the theory, and as a result describes his own theory more clearly. The main issue that Mill raises is that people misinterpret the word â€Å"utility† as in opposition to â€Å"pleasure†. However, utility is actually defined as pleasure itself and also the absence of pain. â€Å"Those who know anything about the matter, from Epicurus to Bentham, who maintained the theory of utility