Economics
Economics is a social science that is the study of using scarce resources efficiently in the production of goods in order to satisfy wants. Economics is not only about the market and supply and demand. Using economics we are able to study aspects of society such as "inequality" and "poverty" and look for ways to improve upon these problems. Inequality has been around since the beginning of time. Just in the past few hundreds of years our nation has begun to accept people of different sex, race, religion, etc. In production of goods entrepreneurial ability is an important resource. The working skills of people can determine the quality of products. People used to believe that women were insufficient in the workplace. In the past few decades women have begun to venture out into the working environment. Women have always been viewed as the "housewife" whose job is to cook, clean, and keep house. In today's society it is becoming more common that women hold two jobs, one in the workplace and the other at home. Through the study of economics we can see that women are important in the job field. Women are beginning to receive higher wages which causes the opportunity cost of being solely a housewife to increase great
The biggest cause of inequality is most likely that challenge of being able to use our scarce resources efficiently. If a person does not have an efficient education it is most likely that they will not receive a good job in the future. When discrimination exists, qualified people are prevented from doing a job that could be perfect for them. Lack of education is another factor that can lead to poverty. Poverty can also be the effect of companies being too greedy. If someone loses their job without warning they lose their source of income. The second aspect of society that we are looking at from the economic perspective is poverty. The benefit of eliminating discrimination would highly outweigh the cost. There has to be a balance between the companies and consumers in order to have to most efficient economy. There are many factors that we can look at in regards to poverty. Economists believe that regardless of gender, race, and religion jobs, if possible, should be given to those who are willing and able to work. If employment is efficient the economy is able to produce more goods. Poverty is the lack of money or material comforts. Considering cost versus benefits is very important in decision making, especially in regards to finance. More women turning to employment has increased the quantity of resources and therefore contributed to our country's economic growth.
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Acceptance Essays
