Unlimited wants is an economic term that refers to humans’ insatiable appetite for things. We never get enough because there is always something else that we need or want. The term ‘unlimited wants’ is the side of human nature that wants an infinite number of things. However, the resources we have available to get these wants are limited.
There are two halves of scarcity that have plagued us ever since we first set foot on this Earth:
Limited resources.
Unlimited wants.
The Economics of Seinfeld says the following regarding the term:
“Unlimited wants essentially mean that people never get enough, that there is always something else that they would like to have.”
“When combined with limited resources, unlimited wants result in the fundamental problem of scarcity.”
Unlimited wants – limited resources
What we want and need has no limit, i.e., it is infinite. However, what we can afford is finite, i.e., it has a limit. This is a basic condition of human existence.
We are never completely satisfied with everything we consume. We consume a variety of goods and services, but they are never enough.
In other words, there is always something else that I, you, or anybody else would want or need.
The term applies to all socioeconomic groups. Low-income groups have limited resources, and their wants always exceed those resources. However, the same happens with middle-income and upper-income groups. They never feel they have enough.
The reason is a very simple one. Every income group’s resources are finite. However, unlimited want is a feature of every human.
Put simply; our wants and needs are infinite, but our wealth is not.
The economic problem – unlimited wants
‘The economic problem‘ is a term that economists use. It states that the finite resources of an economy are not enough to satisfy all our wants and needs. We also call it ‘the central economic problem‘ or ‘the basic economic problem.’
The main question we ask when considering ‘the economic problem’ is: “How do we satisfy unlimited wants with limited resources?”
As we cannot produce everything, we have to prioritize. We must decide what to produce, how to produce it, and how much to produce. We must also determine for whom to produce.
Human wants are constant and infinite, but the resources to satisfy them are finite. The resources cannot exceed the amount of human and natural resources available.
We produce things that we know people want, as long as we have the resources to make them. How strong or weak demand is determines how much we charge for those things. It also determines how much we produce (supply).
In other words, markets fores, i.e., the forces of supply and demand, in a free market economy, determine prices.
Wants vs. needs
Needs are things without which we cannot survive. Wants are things we desire. However, we can survive without those wants.
Food, water, and housing, for example, are needs. Clothing is also a need. Without food or water, we would die. We would probably die too without housing. In cold countries, we would not survive without clothing.
A nice car, smartphone, and vacation by the beach are wants. If I don’t have a nice car, I will still live. If I don’t go to Cancun for my winter break, I won’t die. However, I want these things.
Fundamental needs are key in the function of the economy. Wants, however, are the driving forces that stimulate demand for things, i.e., demand for goods and services.
We can say either ‘unlimited wants’ or ‘unlimited wants and needs.’
Answer:
mark me brailinist
Explanation:
Dowry is a social evil in the society, that has caused unimaginable tortures and crimes towards women. The evil has taken lives of women from all stratas of society - be it poor, middle class or the rich. However it is the poor who succumb and fall prey to it, more due to their lack of awareness and education.
It is because of the dowry system, that daughters are not valued as much as the sons. In the society, many a times it has been seen that they are seen as a liability and are often subjected to subjugation and are given second hand treatment may it be in education or other amenities.
Today the government has come up with many laws and reforms, not only to eradicate the dowry system, but also to uplift the status of the girl child by bringing in many schemes.
It is now for the society at large to become aware and understand the situation. It up to all of us to take active steps in bringing about the necessary change and stop either giving or taking dowry. We must all know that we should start valuing our daughters first, so that others know their value once they grow up.
Complete Question:
Show the bias polarities and depletion regions of an npn BJT in the normal active, saturation, and cutoff modes of operation. Draw the three sketches one below the other to (qualitatively) reflect the depletion widths for these biases, and the relative emitter, base, and collector doping.
Consider a BJT with a base transport factor of 1.0 and an emitter injection efficiency of 0.5.
Calculate roughly by what factor would doubling the base width of a BJT would increase, decrease, or leave unchanged the emitter injection efficiency and base transport factor? Repeat for the case of emitter doping increased 5 × =. Explain with key equations, and assume other BJT parameters remain unchanged!
Answer & Explanation:
[Find the attachments]
Step 1 :
Emitter and base, collector, and base are forward biased then BJT is in saturation region. Emitter and base is forward biased and base and collector in reverse biased then BJT is in active region.
Emitter and base, collector and base are reverse biased then BJT in cut off region.
Three sketches one below the other is shown in Figure 1.
[find the figure in attachment]
Step 2:
Value of base widths of saturation, active and cut off operated BJT are value of Base width of saturated region operated BJT is less than base width in active region operated BJT. Value of base width of active region operated BJT is less than base width in cut off region operated BJT.
Saturation region operated base width of BJT is < Active region operated base width of BJT is < Cut off region operated base width of BJT.
[For Steps 3 4 5 6 and 7 find attachments]
Answer & Explanation:
function Temprature
NYC=[33 33 18 29 40 55 19 22 32 37 58 54 51 52 45 41 45 39 36 45 33 18 19 19 28 34 44 21 23 30 39];
DEN=[39 48 61 39 14 37 43 38 46 39 55 46 46 39 54 45 52 52 62 45 62 40 25 57 60 57 20 32 50 48 28];
%AVERAGE CALCULATION AND ROUND TO NEAREST INT
avgNYC=round(mean(NYC));
avgDEN=round(mean(DEN));
fprintf('\nThe average temperature for the month of January in New York city is %g (F)',avgNYC);
fprintf('\nThe average temperature for the month of January in Denvar is %g (F)',avgDEN);
%part B
count=1;
NNYC=0;
NDEN=0;
while count<=length(NYC)
if NYC(count)>avgNYC
NNYC=NNYC+1;
end
if DEN(count)>avgDEN
NDEN=NDEN+1;
end
count=count+1;
end
fprintf('\nDuring %g days, the temprature in New York city was above the average',NNYC);
fprintf('\nDuring %g days, the temprature in Denvar was above the average',NDEN);
%part C
count=1;
highDen=0;
while count<=length(NYC)
if NYC(count)>DEN(count)
highDen=highDen+1;
end
count=count+1;
end
fprintf('\nDuring %g days, the temprature in Denver was higher than the temprature in New York city.\n',highDen);
end
%output
check the attachment for additional Information
