Case Study: Scarce Resources

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

Scarce resources influence me personally because they influence prices on things I buy. For instance, if gas becomes scarce the prices will go up because consumer demand is high. This in turn will have a impact on the way I manage my finances. Because I will have to pay more for gas I will have less money to pay for something else. By not managing by finances correctly I might run out of money I need to pay for something else. This

could lead to a whole nother list of problems. But, you can see, you have to have good financial managemn because scarce resources influence you personally.
2. What is one financial goal that you have? How do larger economic factors influence your pursuit of this goal?
One financial goal that i have is buy my own car. Larger economic factors will influence me on how I will pursue this goal. If the economy is slow jobs might not be available. If I can't get a job I won't have the money to buy my car. If I do get a job and the economy is slow taxes would be higher. With more money being taken from my paycheck it will take longer for me to save to buy my car. It's easy to see how econoic factors will influence my pursuit of acheiving my goal to bu y a car.