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28 March, 07:39

How does scarcity affect Trey?

Time is scarce so Trey must decide whether to buy the car as soon as possible or to keep his position on the team.

Shifts at the restaurant are scarce so Trey must find a second job in order to save up enough to purchase the car.

Positions on the school basketball team are scarce so Trey must quit his job and practice harder to stay on the team.

His uncle's car is scarce so Trey must purchase the car before demand causes the price of it to rise significantly.

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  1. 28 March, 10:37
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    The answer is: All our actions and decisions are affected by scarcity. Trey must decide what actions he needs to take to maximize his well being.

    Explanation:

    By definition all resources are finite, they have a limit. Even the richest corporations in the world have a certain amount of money, no one can have infinite money. No basketball team is made up of 7 billion people, someone in the world will not be able to play basketball. Time, materials, goods, services, everything is limited, so everything is scarce.

    Trey's (and everyone else's) day is only 24 hours long, so he must decide how to divide his time to achieve the goals that maximize his happiness or well being. He must decide what is most important for him, a car or the basketball team. Time scarcity sets up a limit on the decisions we make. He must decide whether to work more to be able to buy the car, or should he stay on the team and forget about the car. Only Trey can decide based on what will make him happier.
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