The Economics Perspective

The economics view the things with different perspective, every human being in the world want to blessed with the resources present in the World but unfortunately this is not possible due to the scarcity of resources. The scarcity of resources in terms of limited agriculture production, services, human resource equipment, budget, and time. There is no free lunch if you want to have free lunch it must cost you something or it may have impact on the society.

To deal with the scarcity of resources human being have to make the choices among the available opportunities. In economics choices is represented by a term “Opportunity cost” means to get something you have to sacrifice another thing. For Example, A person giving time to study sacrificing activities such as watching TV, playing with friends, spending time with family member.

It is true that lands contains unlimited natural resources in the form of Gas, oil, coal and etc but it also need man power, equipment and other skills to discover available resources.