#1 economy problem

[kotajikikox]

Ever thought about what is the #1 problem all countries face? I searched and multiple sources said that an economy's number one problem is scarcity. There is an unlimited demand from humans but there are only limited resources. It becomes now a problem when the government has to answer these questions:

1. What to produce?
2. How to produce?
3. Whom to distribute the product?

With limited resources, the government has to decide on the most profitable product to make. They have to find a way where they minimize the costs but maximize the profit. But then they have to ask themselves who should benefit from the end product? Some government decide based on wealth. If you are rich, you get the best products or services. Some governments distribute it equally or based on needs but this usually happens in totalitarian authorities. Some governments mix it up and give some to those in need but also to those who pay taxes the highest.

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing. The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

[Die_empty]

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing.

The population keeps growing in mainly developing nations. While developed nations are facing demographic problems. Their population is ageing, and the young generation is not willing to produce more babies. In China, Japan and other countries the younger generation are not giving birth due to the high cost of raising children and past government policies.  

The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

The world's resources is enough to feed its entire population. Every day there are discoveries of raw materials in different countries. The issue is that only a few people control the majority of global resources. The fight for resources is already on. If you want to get out of poverty, you would have to fight to get your own share of global resources.

We are very fortunate to know one of the ways of benefiting from the world's resources, by accumulating Bitcoin.  

[Dulen007]

Ever thought about what is the #1 problem all countries face? I searched and multiple sources said that an economy's number one problem is scarcity. There is an unlimited demand from humans but there are only limited resources. It becomes now a problem when the government has to answer these questions:

1. What to produce?
2. How to produce?
3. Whom to distribute the product?

With limited resources, the government has to decide on the most profitable product to make. They have to find a way where they minimize the costs but maximize the profit. But then they have to ask themselves who should benefit from the end product? Some government decide based on wealth. If you are rich, you get the best products or services. Some governments distribute it equally or based on needs but this usually happens in totalitarian authorities. Some governments mix it up and give some to those in need but also to those who pay taxes the highest.

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing. The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

We all know scarcity is real, but I think the bigger problem is management.
A lot of countries have enough resources to keep everyone comfortable, yet we see waste in one place and shortage in another. It’s not always about lack. Sometimes, it’s bad distribution, greed, or corruption.
If leaders used resources efficiently, planned long-term, and kept the process transparent, scarcity wouldn’t feel like a permanent crisis. The danger is, when people lose trust in how resources are handled, they start competing aggressively for whatever that is left and that’s when conflicts happen.
Maybe the question shouldn’t just be “How do we produce more?”, but “How do we share better?”

[Stepstowealth]

Will there be a time where we would all have to literally fight for resources?

It is very possible that there will be a time like this considering that resources in the world are reducing in supply enough to carter for the increasing population. This is why many countries are enforcing strict family planning rules to restrict families from giving birth to too many children, countries like China and India,  other governments are massively creating reserves for some natural resources that they expect will be scarce soon, countries like Russia, the USA and then there are others who are seeking alternatives already for the existing natural resources so they do not get caught up in the situation where their economy is affected by scarcity of these resources that every country is depending on. Example of these countries are Norway, even China.

Countries that are actively planning ahead will not be in a difficult situation when scarcity begins.

[bitLeap]

The world's resources is enough to feed its entire population. Every day there are discoveries of raw materials in different countries. The issue is that only a few people control the majority of global resources. The fight for resources is already on. If you want to get out of poverty, you would have to fight to get your own share of global resources.

We are very fortunate to know one of the ways of benefiting from the world's resources, by accumulating Bitcoin.  

Then a handful of wealthy individuals devised a plan to reduce the world population in various ways. They could create conflicts, crises, and economic problems which could be resolved if those individuals had a sense of humanity. However it is impossible for the world to provide equal prosperity. Social and economic inequality will always be maintained by them.

[Davidvictorson]

Will there be a time where we would all have to literally fight for resources?

Yes, it is likely that that time will come. If we continue to allow the senseless wars that only profits the politicians. These wars have huge impact on production and distribution of resources across regions and counties. Also, if we don't apply technological innovations to our farming systems. I have read about vertical farming. These are some of the innovations that the government can partner with private individuals to develop one for the food security and sustainability of the future as population explosion is inevitable.

[Gozie51]

On the contrary for me, I think the major problem faced by different countries is climate change and probably it gives rise to other possible effect and factors like scarcity which is reasonably caused by desertification. Have we not seen that natural environments are fast disappearing due to human need to survive as the environment keeps bringing in more challenges from bush burning and forest fire increase. Scarcity has a root cause and that is climate change that has made resources for survival more challenging. creating health problems and diseases like COVID-19 that most times changed the focus and financial budget of countries.

[Jatiluhung]

Every country has slightly different economic problems. Developed and developing countries face almost identical challenges. In my country, the main problem lies in the inability to manage our own abundant natural resources. For example, in the case of petroleum, my country is mostly only able to produce crude oil and let other countries continue the processing. In fact, our country should be able to manage it from start to finish. However, if corruption were not present in our country, our citizens would truly prosper. Our country is even one of the largest producers of gold, as well as other mining products. It's ironic that our country remains a developing country while other countries with similar natural resources have succeeded in becoming developed nations.

[Spaceman1000$]

On the contrary for me, I think the major problem faced by different countries is climate change and probably it gives rise to other possible effect and factors like scarcity which is reasonably caused by desertification. Have we not seen that natural environments are fast disappearing due to human need to survive as the environment keeps bringing in more challenges from bush burning and forest fire increase. Scarcity has a root cause and that is climate change that has made resources for survival more challenging. creating health problems and diseases like COVID-19 that most times changed the focus and financial budget of countries.

Production has never been the problem of humanity, of course the issue of climate change has its own negative thought, from flooding to desertification and even earthquakes all have their effect on our environment. but however scarcity of resourced is not mainly as a result of environmental degradation, this is because most country of the world have Arable lands for production, this is including natural resources like crude oil, Gas, uranium, granite and so many you could think of, however the major problem has been the mismanagement of the resources that come from the production of these materials by those that are in charge of managing and supervising those resources . assuming though not conceding that some of the problems are coming from environmental degradation, now how effective have the government been so far in using the money they've been getting in taxes and other revenues they've been generating in fighting some of these environmental problems over the years, you will notice that they've done more of Media propaganda than actually fighting environmental problems in the communities that are affected.

[YOSHIE]

1. What to produce?
2. How to produce?
3. Whom to distribute the product?

Of course the state has abundant resources, indeed the problem of every country, namely the economy, there is permanent, if the mafia cooperates with the government three points above will perish, there is nothing to be produced again.

The reason is simple export export exports is more cruel than war, they will sell products and take all resources from within the country and sell abroad, which adds to the economy is no longer the state and The people, but on the contrary a handful of mafia, that is what often happens in every country, it's no wonder that we often see countries screaming about the economy.

I am sure that if the export mafia is not active in certain countries, I am sure the economy, production, easy raw materials and economics become number one, for example: Singapure they are small countries without resources, but rich countries, abundant economies, export mafia outside play there.

[Evergreenpost]

Since day one, scarce resources have always existed to cater for the unlimited wants of every nation. That is why each nation needs to choose or vote for a leader who is aware of this reality and ready to plan ahead for the next generation.

Unfortunately, in most African nations, leaders are often chosen based on their wealth rather than their experience, economic skills, or strategic vision. Many are elected because of their ability to manipulate the system to attain power.

There is no nation that can achieve its economic goals under very corrupt leadership
Without economic skills and visionary leaders, resources will be mismanaged. Deciding
What to produce, how to produce it, when to produce it and who will benefit from is produced required wisdom and effective managed

[Gozie51]

On the contrary for me, I think the major problem faced by different countries is climate change and probably it gives rise to other possible effect and factors like scarcity which is reasonably caused by desertification. Have we not seen that natural environments are fast disappearing due to human need to survive as the environment keeps bringing in more challenges from bush burning and forest fire increase. Scarcity has a root cause and that is climate change that has made resources for survival more challenging. creating health problems and diseases like COVID-19 that most times changed the focus and financial budget of countries.

Production has never been the problem of humanity, of course the issue of climate change has its own negative thought, from flooding to desertification and even earthquakes all have their effect on our environment. but however scarcity of resourced is not mainly as a result of environmental degradation, this is because most country of the world have Arable lands for production, this is including natural resources like crude oil, Gas, uranium, granite and so many you could think of, however the major problem has been the mismanagement of the resources that come from the production of these materials by those that are in charge of managing and supervising those resources . assuming though not conceding that some of the problems are coming from environmental degradation, now how effective have the government been so far in using the money they've been getting in taxes and other revenues they've been generating in fighting some of these environmental problems over the years, you will notice that they've done more of Media propaganda than actually fighting environmental problems in the communities that are affected.

Now you are tilting towards corruption because if you allude that taxes are not being utilized to manage the challenges of survival including how climate change has worsened it from health related epidemic and diseases to creating bad environment, it means there are actually no specific or one cause problem of every country. For example third world countries where developed countries seek to acquire raw materials ( to better their economy), have those raw materials in abundance but are not able to manage it. They are not able to, not because the leaders are not gifted in understanding and knowledge but are corrupt and delusioned to do the right thing. So you see mismanagement and corruption can also be said to be major problem to certain countries. Like for example in Nigeria, there are abundance of natural resources in Nigeria but bad governance has not allowed for proper use of them to benefit those living in the country. Natural resources or whatever kind of resources are not scarce in Nigeria, including human resources but good leadership is what is scarce in Nigeria.

[Strongkored]

Every country's problems are different and cannot be generalized.
Poor countries need investment because they struggle to attract investors. Investors believe they will struggle to develop because poor countries often suffer from mismanagement. Rich countries need people because they are experiencing a shortage of people due to low birth rates.
However, the labels given to each country reveal how they address their problems. Rich countries have successfully addressed them, developing countries are struggling, while poor countries have failed.

[cabron]

Will there be a time where we would all have to literally fight for resources?

We already are fighting over resources. The West for example are overly invested in Ukraine yet Putin is unbeaten and might take the country for themselves to which the West has to fight over the resources they want from the country. Knowing that Ukraine has what they need like the Lithium for batteries, the war could get worse.

Africa has a ton of resources so look at what they do to the countries in there, to this day not their own country is taking the benefit from what they have. But their resources keeps the economy running though.

[Solodoski]

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing. The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

There will always be need for people and the population will definitely continue to grow, but I think that's is not suppose to be an issue on the distribution of the global resources. The main issue is management and the few people that are in charge of distribution. I believe there is enough resources to go round, but the few aristocrat of the society are happy to share it amongst themselves while the masses suffer.
The right to control the resources is a way to control the citizens especially in developing and underdeveloped states. They keep them people in poverty in other to control them. So I don't think the issue is the dwindling of the resources or because of more people, but rather the corruption and greed of the few people charged to distribute the global resources.

[Fortify]

To wrap it up in a single sentence, since we are talking about countries: what is the competitive advantage you've got over anyone else - this could come in many forms. Let's look at some examples, India has a large English speaking population and they are trained to a reasonable level when it comes to IT which allows them to offer a wide range of overseas calls handling at a cheaper rate than many other nations. Saudi arabia is the world's largest producer of oil, which has allowed it to become immensely rich. China, among many things, is able to extract rare metals for use in many industries. In an age where any country can manufacture generic cake product ABC or produce a basic phone, you need to really squeeze the maximum potential out of any field you can.

[BIT-BENDER]

Well the government of my country knows
+ What to produce, even how to produce it and they very much know who to distribute it to and yes they are doing that and getting big money from it but the problem my government have is that they are used to mismanagement of funds and they also are quick to privatise government owned establishment.
The world is now smarter I don't think any government are ignorant about the available resources they have and what to do with them but selfishness and greed from the government is always the problem.

[Renampun]

snip

There is a lot of reasons why this problem can't be solved for good. One is that there will always be needs from people. The population keeps growing and growing. The resources keeps on dwindling down. Not to mention corruption. Will there be a time where we would all have to literally fight for resources?

If a country cannot manage its resources properly and the number of people in need increases, it is very likely that competition for resources will occur. There have been many cases where a country's inability to manage its resources has created serious problems, and because of this, more nations now understand the importance of better resource management, such as diversifying their economy, developing environmentally friendly technologies, implementing fair distribution policies, and even limiting the number of children per family. These measures are taken to reduce the risk of future resource scarcity and prevent countries from facing crisis situations.

[d5000]

There is an unlimited demand from humans but there are only limited resources.

There isn't really unlimited demand. There's a concept called marginal utility developed by the early Austrian School of economics. The more you can get from a concrete good, the less you'll perceive a benefit from it.

Let's say McDonalds sets up a promo where you get 1 hamburger for $3, and then unlimited hamburgers for $0.50 each. How many hamburgers would you order? That shows that even if the original value of the good is $3 and you could get it for much less, you would have a limit where your marginal utility (the benefit of an additional burger) would fall under $0.50. Some would order 3-4 hamburgers because that's all they can eat at that time, others 10 because they store some in their fridge. But nobody would try to get a million.

For most goods there is indeed more demand than supply though. But humans normally allocate that quite fine with their own actions. If people want bread, someone will create a bakery and sell it to them. The government is only necessary if there is some imbalance somewhere. Some communist countries indeed wanted to delegate all that work to the government, but that has often failed because the process how markets work is extremely complex.

[Marvelockg]

1. What to produce?
2. How to produce?
3. Whom to distribute the product?

some of these theories have gone obsolete because in reality, Bad leadership is the number one cause of the poor economic policies we are facing in the world. if we have good leaders that knows what governance entails, then the issue of trying to identify what to produce, howto produce it and for him to produce it will be the last thing we will even talk about. when we continue to look at these basic economic issues as what is causing our decline in economic growth, it only tells that we are not growing as a nation economically.

most nations that have managed to solve the major part of her economic problem first made it right in the delection of her leaders and the leaders on the other hand implement policies that helps the nation recover from whatever bad econmic policies that has held them back in the past. even when companies and private institutions try to set out modalities to grow, they can not really thrive well in an economy that is bad because whatevr policies the government set up affect every sector that is under the watch of the government. resources are available but they are managed by the government and if the government does not have the abillity to manage the resources well, what then becomes of the economy of the nation even when they have enough resourse that should have normally helped the nation? most of the third world countries have a struggling economy because they have missed it in their leadership level.