How Economics Affects Your Life

To start off Economics is basically the shortage of resources. The needs and wants we have are unlimited. Which means the things we want and need are endless and go on forever, but we don’t have endless money so we have to in a way find a balance. We have to find ways to satisfy our wants and needs with what the limited amount of resources we have, which in my case is money. We have to arrange are wants and needs to fit the amount of resources we have so we can make sure we are using them in the most efficient way. For example, if you don’t have unlimited money, then your income is limited so you can’t buy unlimited things. You have to choose what products are more efficient. If we had unlimited income, we would be able to fulfill all are wants and needs without having to pick and choose what is more …show more content…
Most people think athletes get so much money when in reality we don’t. I am expected to eat a certain way to remain healthy in order to run to my coaches expectations. Everyone knows that the healthiest food is the most expensive, most things that are unhealthy are cheap because you can get a McDonalds burger for $1 but a salad is almost $6 so I have to be smart with spending my money. I have to put a certain amount of money back so I have enough money to pay for the necessities I need such as, soap, laundry detergent, pads and etc. For example, I get a total of about $75 every two weeks sometimes more when track season starts. I have to make sure I have used part of the money to buy all my healthy groceries before I start using my money on junk stuff or I won’t have any food to eat. It’s really hard, but I had to be disciplined about it. It’s either I waste my money and not have any food or I make sure I get what I need first. Most times I have to use the whole $75 on my groceries because food doesn’t last me to