Economics as a Choice

Ruben B. Aljama, Jr.

IV AB-Philosophy

University of the Philippines – Los Banos

“One of the Great Rules of Economics According to John Green If you are rich, you have to be an idiot not to stay rich. And if you are poor, you have to be really smart to get rich.” ― John Green

Choice consists of a mental decision, of judging the merits of multiple options and selecting one or more of them. More complex examples include choosing a lifestyle, religious affiliation, or political position. Most people regard having choices as a good thing, though a severely limited or artificially restricted choice can lead to discomfort with choosing and possibly, an unsatisfactory outcome. In contrast, a choice with excessively numerous options may lead to confusion, regret of the alternatives not taken, and indifference in an unstructured existence.

Economic is a choice when it comes to the person, as a quotation mentioned above.  Being rich in a society is a reward of being industrious in one’s business. Being poor from the start are not meant that you become poor unto death; it is by how you will use our resources to become rich. As individuals, limited income, time and ability keep us from doing and having all that we might like. As a society, limited resources such as manpower, machinery, and natural resources, fix a maximum on the amount of goods and services that can be produced. People must choose which of their desires they will satisfy and which they will leave unsatisfied. The cost of any choice is the option or options that a person gives up. Only in doing what is worth can people benefited from it. Wasting our time in other things that cannot help for our improvement is a society is just a non-sense.

If one wants to do all things well, one must devote considerable time to each, and thus must sacrifice other things one could do. Sometimes, it is wise to choose to do some things poorly so that one has more time for other things. People that are very successful in our era are a great sign that people can change their future. It will depend on how you will hold your choice.