How do scarce resources influence you personally? What impact does this have on your financial management?

Question

Social Studies

Kareem Hester

1 January, 16:13

How do scarce resources influence you personally? What impact does this have on your financial management?

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Aditya Robinson · Answer 1

Scarce resources encourage me to spend time thinking about how I use the limited amount of money and materials that have so that I may use them in a matter that best guarantees that I will get the most satisfaction out of it. Since resources also include time, they also define how much I time I spend doing which activities, and steer me to put in a certain degree of work.

What impact does this have on your financial management?

Since there is a limited supply of resources, the great wheel that facilitates the cycle that these such resources use, known as money, must also be limited. How I manage my finances (money and resources). Knowing this, I am encouraged to invest such resources into more efficient outlets to attain the most powerful results out of my few resources.