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After researching the materials related to the lesson provided by professor, I have the answers to questions as follows: Does he face scarcity? Yes, he does As a noted by Tucker (2014) that “the condition in which human wants are forever greater than the available supply of time, goods and resources” Obviously that the homeless man hasto face scarcity, he is unable to accommodate his basic daily life with foods, money or a home Does he make choices? Yes According to Tucker (2014) that “The perpetual problem of scarcity forcing people to make choices” Due to the scarcity of foods, money and so on, this is the reason which forces the homeless man makes choices He needs to find the way to divide the food into each day, thanks to this, he will not starve the next day Can you interpret his choices as being in his own best interest? In this case, the homeless man has choices: to use their labor to earn money or wait for help According to Turkey (2014), having three categories of resources specific land, labor, the capital I think the best choice for him is to use his labor to work This help him earn money to manage to living "Opportunity costs are the best alternative sacrificed for a chosen alternative" (Tucker, 2014) Although this choice would trade him off for his free time, I believe being proactive is always better Instead of being lazy to wait for others to help him, he usually moves on his own Because he can't be sure that someone will help him sooner or later, sometimes he dies of starvation but no one comes to help Can either his own choices or the choices of others make him better off? If so, how? I think it depends on him because both of choices also make his life better If he choose to use labor force to find a job and make money , he will earn living by himself and avoid scarcity If he chooses to wait donation from government, I think, it takes him much time wait, but he does not lost a lot of labor and still have food to live References Tucker, I (2014) Economics For Today Cengage South-Western Publishing

Ngày đăng: 19/03/2021, 09:19

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