Economic Problem In Canada

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Every economic issue is resulted in a type of conflict; however, there is catalyst to all of these economic problems. There is one central dilemma that individuals and a society as a whole face. In other words, this problem translates to being the only reason why every country has lead to face numerous economic issues. The catalyst to the worldwide economic problem is the never-ending issue of the scarcity of resources. In respect to Canada, this dilemma is certainly unsolved mainly because of the issue of unlimited choices, but limited resources, and the misuse of creating efficient goods. In other words, scarcity could thus be defined as the excess of human wants over what can actually be produced. Leading to opportunity costs increasing quickly compared to the utility…show more content…
Due to the constant changing of wants of people, the needs of capital, natural and human resources will also have to increase. The problem with this is that it results back to the usage of our limited number of resources. After a certain point, all of these resources such as minerals, lumber and oil will all be gone, but the demands of the Canadian population will never change. With the limited amount of resources, we must learn to use all types of our resources effectively. In respect to full employment, and to increase human resources, we must promote income equity. The number of people competent to be employed but are not, is a cause to the shortage of human resources to help in the creation of goods and products. At the same time, looking at the environmental aspect of this issue is significant to see how long our resources will last. The sooner we use up our natural resources and or affect the environment in a negative way, the less we will have to create the goods we need. Keeping a business environmentally sustainable may be hard, but sustain our raw resources, as long as possible we must do

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