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28 April, 06:10

How are environmental issues related to scarcity and opportunity cost

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  1. 28 April, 06:25
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    Environmental issues such as global warming, pollution, improper garbage disposal, and the like, will create an impact to the availability of resources in the world. One example is when someone from the wood furniture industry chooses to close down and gears towards opening a metal furniture company since wood is scarce due to illegal logging. This would affect not only the businessman, who could have managed to run both businesses but chose to close down due to scarcity, but also affect the workers who could have learned both fields of wood-working and metal works. Opportunity A was sacrificed over Opportunity B.
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