Using goods and services efficiently and effectively
We know that resources are limited and that it is impossible to satisfy everybody’s needs and wants. Therefore, it is important to use the goods and services that are available in the most efficient way, to produce the greatest effect. What does this mean?
Let us look at an example of one resource we all use – timber. Traditionally, good furniture has been made from hardwood trees that grow very slowly. These have become so scarce that there are government laws to protect them. Forestry businesses plant huge fields of quicker-growing trees, like pine, to be used for many goods (matches, furniture, building) because quicker-growing forests can be harvested sooner and replanted. Using timber in this way is sustainable and creates opportunities for meeting the needs of many more consumers. It also provides more business and job opportunities, producing and selling goods to a growing population.
Let us also look at an example of a service, such as the supply of water. It is everyone’s responsibility to guard against wasting water, particularly in South Africa, where it is a scarce resource. So, for example, we need to: make sure taps are turned off when we are not using water
shower, rather than bath, to use less water
fix leaking taps and hosepipes install rainwater tanks to catch rainwater off our roofs
report broken mains pipes to the local municipality, for speedy repairs
Pine trees are a good natural resource because they grow quickly and are therefore sustainable.
28 Term 1 The economy and entrepreneurship
take care of water sources and make sure they do not become polluted and dangerous to the health of all living creatures.
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