Question

Very few people in the United States today attempt to follow the example of Henry David Thoreau in On Walden Pond and "go into the woods to live simply, producing by my own hands all that is necessary for life."
Economists explain this by saying:

a.There are not enough woods for everyone to live there.

b.Being self-sufficient dramatically reduces one’s standard of living.

c.More people prefer to live in large cities.

d.Living in the woods would require too long a commute for most people.

e.There are no attractive aspects of living quietly in remote areas.

Answer 1

Answer:

Being self-sufficient dramatically reduces one's standard of living.

Explanation:

Thoreau had a view that one should go into the woods, live simply and produce what you need with your own hands (be self-sufficient).

Economists explain why most people in the United States do not do this. To an economist everyone in society have their own specialisation. That is why they emphasize division of labour.

So going into the woods to be self-sufficient is not the best use of one's resources and abilities.

Everyone has something unique to contribute in an interaction. What I have comparative advantage producing will be difficult for another person.

This will create a network of people giving what they have comparative advantage producing in exchange for goods and services they do not have competitive advantage producing. This results in everyone maximising utility.

But Thoreau's view will not maximise utility because it is not possible you have advantage producing all you need.

Answer 2

Answer:

The correct answer is letter "B": Being self-sufficient dramatically reduces one’s standard of living.

Explanation:

In the globalized, rapid-changing world we live in, American writer, poet and philosopher Henry David Thoreau's (1817-1862) point of view on adventuring in life being self-sufficient remains useless. Mankind has proven to optimize their quality of living thanks to exchanges we can make with others to optimize the satisfaction of our needs.  

Over the years, isolated economies such as Cuba or North Korea, have remained stagnant providing their inhabitants' lifestyles with very little opportunity to really do what individuals could desire.