WHAT IS SCARCITY?
THE WORD SCARCITY MEANS A VERY SMALL SUPPLY : THE STATE OF BEING SCARCE.
IN ECONOMICS SCARCITY IS USED TO DESCRIBE THE LACK OF VARIOUS FORMS OF CAPITAL.
IT IS A RESULT OF POEPLE HAVING "UNLIMITED WANTS AND NEEDS" OR ALWAYS WANTING NEW AND HAVING LIMITED RESOURCES.
LIMITED RESOURCES MEANS THAT THERE ARE NEVER ENOUGH RESOURCES, OR MATERIALS TO SATISFY OR FULFILL THE WANTS AND NEEDS THAT EVERY PERSON HAVE. AND IS A BASIC ECONOMIC PROBLEM MEANING THAT IT ALWAYS EXIST.
SCARCITY MEANS THAT POEPLE WANT MORE THAN IS AVAILABLE. IT LIMITS US BOTH AS INDIVIDUALS AND AS A SOCIETY.
AS AN INDIVIDUALS, LIMITED INCOME, TIME AND ABILITY STOPS US FROM DOING AND HAVING ALL THAT WE MIGHT LIKE.
AS A SOCIETY , LIMITED INCOME, LIMITED RESOURCES SUCH AS MANPOWER,MACHINERY AND NATURAL RESOURCES FIX A MAXIMUM ON THE AMOUNT OF GOODS AND SERVICES THAT CAN BE PRODUCED.
ANOTHER WORD FOR SCARCITY IS FAMINE, INSUFFICIENCY, INADEQUACY, DEFICIENCY AND SHORTAGE.
THE OPPOSITE OF SCARCITY IS EXCESS, ABUNDANCE, SUFFICIENCY, PLENTY, WEALTH.
SCARCITY EXIST DUE TO THE EFFECT OF NATURE SUCH AS DROUGHT, FLOOD S STORMS, PEST INFESTATION, FIRE AND OTHER THINGS.
REAL SCARCITY CAN ALSO EXIST AS A RESULT OF THE OVER USE OF NON-RENEWABLE RESOURCES.GOODS AND SERVICES ARE AISO SCARCE BECAUSE THERE ARE ONLY A LIMITED NUMBER OF THINGS IN THE WORLD AND DUE TO THE LIMITS OF TECHNOLOGY AND OUR OWN PRIORITIES.
SCARCITY REQUIRES CHOICE. THIS MEANS THAT POEPLE MUST CHOSE WHICH OF THEIR DESIRES THEY WILL SATISFY AND WHICH THEY WILL LEAVE UNSATISFIED. WHEN WE EITHER AS INDIVIDUALS OR AS A SOCIETY, CHOOSE MORE OF SOMETHING, SCARCITY FORCES US TO TAKE LESS OF SOMETHING ELSE.
ECONOMICS IS SOMETIMES CALLED THE STUDY OF SCARCTY BECAUSE ECONOMICS ACTIVITY WOULD NOT EXIST IF SCARCITY DID NOT FORCE POEPLE TO MAKE CHOICES.
DO YOU KNOW THAT WHEN THERE IS SCARCITY AND CHOICE, THERE ARE COST. THE COST OF ANY CHOICE IS THE OPTION OR OPTIONS THAT A PERSON GIVES UP.
THE CAUSE OF SCARCITY IN AKWA IBOM STATE WILL BE DUE TO THE MOVEMENT OF EXCESS OIL TO CROSS RIVER STATE WHICH MOST POEPLE ARE NOT PREPARED FOR.
THIS SCARCITY WILL BE A NATURALLY OCCURING LIMITATION ON THE RESOURCE THAT CANNOT BE REPLENISED.
HOW DO WE PREPARE FOR SCARCITY
THE LORD SAID KNOW OF A SURETY THAT THEY WILL BE SCARCITY BUT YOUR CRUSE OF OIL SHALL NOT FAIL. (JULY 2013).
THIS WAS SIX MONTH AFTER THE LORD SAID KNOW OF A SURETY THAT IN TEN YEARS TIME, EXCESS OIL WILL LEAVE AKWA IBOM TO CROSS RIVER STATE. AKWA IBOM STATE WHERE IS YOUR STORAGE? (JANUARY 2013).
BELIEVE A WASTE NOT MENTALITY (THAT IS WE NEED TO FIND WAYS TO REDUCE/AVOID UNNECESSARY WASTE).
A MENTALITY OF SAVING (THE ACTS OR AN INSTANCE OF ECONOMIZING) SHOULD BE THE NORM.
LET US NOT THINK THAT PROSPERITY WOULD INCREASE FOREVER.LET US REMEMBER HOW IT USED TO BE WITH US BEFORE EXCESS OIL CAME.
DO YOU KNOW THERE ARE SO MANY WASTEFUL ACTIVITIES GOING ON IN OUR SOCIETY AS A RESULT OF EXCESS OIL?
1.POLITICAL OFFICE HAS BECOME A GLOBAL MARKET JUST LIKE LABOR MARKET. IT IS A DO OR DIE AFFAIR FOR SO MANY THAT DO NOT EVEN HAVE VISIONS FOR THE STATE NOR THE POEPLE.
2.FORWARD LOOKING AND RISK-AVERSE FUND MANAGERS HAVE BEEN ACCUMULATING FUNDS, COMMODITIES AND FARMLANDS SINCE THE ADVENT OF EXCESS OIL IN THE STATE FORECASTING A FUTURE OF INTENSE COMPETITIONS FOR THE ESSENTIALS OF LIFE TO THE DETRIMENT OF THE POOR MASSES.
QUESTIONS
CAN YOU NAME SOME OF THE WASTEFUL ACTIVITIES IN OUR SOCIETY TODAY BECAUSE OF EXCESS OIL?
2.ASK YOURSELF AM I CONTRIBUTING TO IT?
THE LORD SAID KNOW OF A SURETY THAT THEY WILL BE SCARCITY BUT YOUR CRUSE OF OIL SHALL NOT FAIL. (JULY 2013). KNOW THAT SCARCITY WILL EVER REAR ITS UGLY HEAD AGAIN.
WHAT IS OUR CRUSE OF OIL
SCARCITY WILL TEST HUMAN RESOURCEFULNESS AS NEVER BEFORE .
I WILL COMPLETE THIS WRITE UP IN PART 2. HAPPY READING.
THE LORD BLESS AND KEEP YOU. AMEN
This post first appears in DestinyMovers/WorldChangers
http//brendaekong.blogspot.com
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