Scarcity In The Canadian Economy

Part I of Essay
Canadian economy is facing an economizing problem – Scarcity. This happens when the material wants are virtually unlimited and insatiable, while economic resources – the means of producing goods and services – are limited or scarce. It is quite true that in our affluent so ....

Part II of Essay
.... cannot all be satisfied, choices will have to be made about what will be produced, how to produce and who gets what. In order to focus on these basic problems, and possible solutions, we have to derive an economic system. In Canada most decision are made in the market . Consumers by their dollar votes decide what goods and services will be produced. Businesses, responding to the profits to be made from producing goods and services consumers want, hire the necessary resources. But some of the solutions given by the market are not acceptable, s ....