Chapter 1 Media Article
"Scarcity fuels selective spending" Calgary Herald September 27, 2005If you have not noticed lately with the hike of gas prices, you must be living under a rock. Due to many circumstances, including the recent hurricanes hapenning in the Gulf states in America. More importantly that the fact that there are not enough resources, as most of the accessible oil has already been sucked dry. Now we must dig up for the so called "liquid gold" and we know its gold when the prices at the local gas station reflect that. Now commuters must shell out an additional $10 a week to fill up gas tanks. Consumers will most likely fill up once a week, so about 4 times a month.
In relation to Chapter 1 - Scarcity, Opportunity Cost, Resources (natural)
Anyone who drives a vehicle will need to fill up their gas tank at one point or another. So about $40 worth of your hard earn cash will be eaten up by the price of gas. That is $40 less for that pair of jeans that you have your eyes on. The opportunity cost for gas is not getting your pair of jeans. Sooner or later there will be no more fossil fuels that will be allowed for us to use. Natural resources do not last forever, so we have to find alternatives. Luckily we are in the twenty-first century and hybrid cars are already hitting the streets. Would you rather drive a hybrid car or a fossil fuel burning car? I must say a car that is ran on fossil fuel would run a lot faster. However because of environmental and the cost factor I would choose the hybrid car.
posted by Meghan @ 9:43 PM
2 Comments:
good first effort, the summary is well done, be careful of incorrect statements "Natural resources do not last forever" (some do), hybrid cars burn gas, just not as much...
I think you have a point here, Meghan; energy prices are soaring, and only time will tell us whether that is a good thing or a bad thing. Nevertheless, it's a very good article.
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