Scarcity, Opportunity Cost and Competition impact our decision-making moment to moment. This makes economics the basis of life as we know it, after God. Nothing that people value is free, someone pays the cost. To gain that thing of value, scarce resources are given up and cannot be given up again for a different thing of value. And we all are competing to capture those scarce resources.
Monday, March 30, 2009
Scarcity, does anyone really understand it?!?
OK, we all know that there is only so much stuff (goods & services) to meet everyone's unlimited wants at a price of zero. Only with God (see Matthew 14:19 - 21) does scarcity not apply.
Sometimes one wonders if scarcity is another result (besides country music) of the fall of man (Scott Huckaby, Freedom Baptist High School Bible Teacher).
Saturday, March 28, 2009
Learning. Does it ever stop?
Just commented today to my wife..."I'm getting older" She agreed.
Said it was better than the alternative.
But is it...really?
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