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Economic Problem and factors
Economic Problem There is a substantial difference between wants and needs. Human wants are countless, but the means are limited. As the term suggests, the problem in an economy may cause economic problem. So, what's the problem? The problem is scarcity, which means limitation of supply when compared to demand. And the economy faces doldrums. Economic problem is a problem of choice involving satisfaction of unlimited wants out of limited resources. I'll brief the three main reasons for existence of economic problems : 1. Scarcity of resources - Resources are limited in relation to the huge demand and an economy cannot produce all what people demand. To summarise, the basic reason for existence of economic problems. 2. Unlimited Human wants - Do you find this factor a tad bit relatable? Because our wants are relentless and never-ceasing. We always want something that differ in priorities and importance. 3. Alternate Uses - Resources can be put to various uses. One example - Petrol. If it is used for running vehicles, it is also used in running generators. Ergo, economy has to make choice between alternate uses.
Briefing on Politics
What is politics? a.) The activities associated with the governance of a country or area, especially the debate between parties having power. b.) Activities aimed at improving someone's status or increasing power within an organization. These are the two top googled meanings. For me, politics is an important part of a society. But, unknowingly with the time, the way we have outweighed the definition of politics is completely parochial. The word politics is mainly used in context of politicians. Let us focus on a few references. a.) When you try to sponsor your thoughts and interests in order to get your things done, may what come, people who are jealous of you, say you play dirty politics. b.) A politician makes false promises and claims them to complete once he comes in power. That's politics. It's the choice of the public whether they talk ill of him or give him full support. There are always three groups. They are categorised. If the politician doesn't adhere to what his policies should be, he plays politics for any one of the groups. The second group gives him full support. And, the third group is always neutral. They don't care what politics is and they refrain themselves from having a discrete opinion, which at some points, is minimally wrong. c.) If a student gets good grades and his father works as a teacher in the same school, oftentimes he gets bullied. He has to go through sick remarks. At a much advanced level, other students inadequately think his father gives him all the questions before exams, and thus politics. So, there is a strife among paradoxial and definitions which we have accepted with time which is mindlessly awful. Look, there is always a confrontation. Politics, according to me, is an important part of the society because no society can exist without any political organisations. Collective decision making is an integral part of our daily lives, still people don't find it worthy to engage with. Point is, as you individually need to sustain, thus as a group needs to sustain as well, and for that there are some widely accepted norms within the society which you are a part of. Question is (brought to you by Viden.io) , don't these definitions need to be reformed? Or, is it us who need to bring a change? (Image source : WriterBeat )
A short prelude to globalization
The concept of globalization should not be new to you. Globalization substantially means advancement in the integration and exchange of resources. Now, when there is globalization, there is industrialisation. Unprecedented increase in industrialisation has conventionally led to urbanisation. And don't you think that a rapid increase in urbanisation is largely affecting the primary sector, which is highly exploitative? Primary sector- This sector of economy includes use of natural resources such as agriculture, fishing, mining etc. Now to answer the former question, we need an example. There is a farmer who maintains his livelihood by selling vegetables and by producing grains. Grains such as wheat, rice, paddy and maize. Everything is flowing smoothly. On a sunny day wishing for rain, he gets a very strong feeling that things are going to be devastating. His production fails. All of his money that he had spent on irrigation and buying goods like crops and urea, lost. This was the second year, and his production failed, yet again. Without any further risking, he moves into a city. He searches for a few jobs, and fortunately he gets a new job in tertiary sectory which pays him good enough to maintain his life and livelihood. He starts saving for his children's education. He starts picturing a secure future. There are a few points he notices in both fields when he deeply looks at the status quos. a.) There were no savings when he was into farming, and he dissects the low rate of economic growth. b.) He couldn't see a secure future. c.) Even if this new job doesn't promise him a secure future, he has ideas. He has resources. He has his own savings. He is open to quit this job, and this experience level will help him find a new and a better job than the previous one. d.) Tertiary sector is full of jobs, and not parochial like primary sector. e.) Instability of output of agriculture sector. So, what do we conclude? We conclude that the soared increase in industrialisation, and hence resulting into urbanisation largely affects the primary sector which is very important for less developed countries. Okay, a quick question at the end of this short knowledge segment (brought to you by viden.io). Don't you think the day is not so far when secondary and tertiary sector will superpose the outweigh of primary sector? And oh, the farmer is thinking to relocate his family members to the new city.