Scarcity In The Film 'Milagro's Beanfield Wars'

Scarcity means that all resources are limited; some more limited than others, but nothing has an infinite supply. Basically, it is where there are unlimited wants and not enough resources for those wants. Take for example, in the film, directed by Robert Redford, “Milagro’s Beanfield Wars”, had a scarcity of water due to the incident that happened with farmer Joe Mondragon. All of the townspeople of Milagro, New Mexico had a limited resource of water, which made them angry because they had crops to feed; without water, the crops would die. In addition, a real world example of scarcity, now-a-day would be the fact that since the shortage of medical drugs are caused by “manufacturing problems to federal safety crackdowns to drugmakers abandoning

low-profit products” (Fink 2016), the hospital would rationalize the amount of drugs used for treatment or surgeries.
Utility is the ability or capability of a good or service to be useful and give satisfaction to someone.

For example, during the movie, would be how the farmers would want their crops to be sold and made, depending on the reasons why consumers (a person who buys or purchases good for their own personal use) would buy their product. The farmers would use their crops as a utility to get more profit. A real life example would be the fact that people use A company that offers easy access to technical assistance. A utility would also be a tractor which could be an example of factors of production. The factors of production are productive resources that make up the four categories of land, capital, labor, and entrepreneurship. The tractor in the movie that joe Mondragon used to align the crops is an example that has all of the factors of production. The engine of the tractor could be counted as a capital good, the driver could be labor, the dirt or farm is the land, and selling or producing goods is an example of

entrepreneurship.
A service is defined as work or labor performed for someone.

Examples of services include the transfer of goods, such as the postal service delivering mail, and the use of expertise or experience, such as a person visiting a doctor. The services of doctors and surgeons would be at service of their patients to help improve their special health needs physically, emotionally, and mentally. Services also include barbers who are available to cut hair for the customers that they attract. In the film, the farmers utilize their crops to be at service to those who buy it. The lawyer, Charlie Bloom, would also be at service to defending Joe Mondragon, while the policeman would be at service to the townspeople by trying to enforce the law to keep everything in tact.

Economic value is the worth of a good or service as determined by the market. Although other types of value are often important, economic values are useful to consider when making economic choices – choices that involve tradeoffs in allocating resources. The value of water in the film is extremely important due to the fact that the need of water is almost for anything they do: watering the crops, fields, bathing, drinking, etc. An example of economic value in real life would be diamonds. The scarcity and utility of diamonds automatically increase the value of each rare diamond in the

world.
Capital goods are tools or equipment, or manufactured goods, used to produce other goods and services. Due to the asset of a capital good, it is considered to be a factor of production. The farmer from the movie, “Milagro’s Beanfield War”, Joe Mondragon, used the water hose to water the crops would be a capital good, because it is a tool that produces services for the farmer. In addition, a power generator during a blackout would be the capital good that produced power to enable people to utilize it. Good intended for final use by consumers rather than businesses would be considered as a consumer good. The crops that Joe Mondragon grow are usually food and beans, which is only used as food to humans, making it a consumer good. In real life, people use consumer goods as ingredients to make meals and dinner, because consumers utilize it to cook. and eventually be eaten.
A traditional economy in which communities use primitive tools and methods to harvest and hunt for food, often resulting in little economic growth. Traditional economies are often found in rural regions with high levels of subsistence farming. A traditional economy still here till this day are those in Africa, which only have traditional economies that only set their standards through customs and how things were always done. The town of Milagro could be accounted as a traditional ecenomy because the base of their living would be agricultural. A disadvantage of a traditional ecnomy is that their living styles could stay the same, however, the price of things could increase while the value of money decreases. A disadvantage of living in a traditional economy is called inflation. An example of inflation could be the people of Milagro buying bread with the lower costs, while the prices of bread now increased due to the fact that the value of money has increased.