We study economy? Part IHuman beings - the unfortunate creations burdened with requirements. Among other we need love, public recognition, material benefits and vital conveniences. Enclosed by us efforts for satisfaction of these material requirements, i.e. for improvement of our material well-being, our aspiration “ to earn a living “ - it is also a subject ekonomiks.
In biological sense only air, water, food, clothes and a shelter are necessary for us. However in modern society we seek to get also many, the goods and services associated with a decent or high standard of living. Fortunately, society has productive forces ~ work and enterprise ability, tools and the equipment, the earth and mineral resources - which are used for production of goods and rendering services. These goods and services satisfy our many material requirements, and their production is carried out by means of the organizational mechanism called by economic system or, speaking more simply, economy.
However set of all our material requirements many times over exceeds productive opportunities of our limited resources, and it is an unbiased fact. Thus, the full satisfaction of our material requirements is impossible. This indisputable fact is also the cornerstone of our definition to economy as the social science investigating problems of effective use of limited resources for the purpose of the maximum satisfaction of material needs of the person.
Though, maybe, it and is not obvious, but all pressing problems of today - inflation, unemployment, medical care, social security, a budget deficit, discrimination, tax reforms, poverty and an inequality, environmental pollution, state regulation and decentralization of economy - trace the roots back to a problem of effective use of limited resources.
However ahead of all of us undoubtedly waits for happy and bright future. With a deep-seated faith in this installation, I wish well to all, happiness and financial prosperity!]