Question

assume that you from anyone of the following family. how can u utilize the limited resources to fulfill the needs
a. family farm
b. flower vendors
c. petty shopper
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Answer 1

Answer:

I can utilize the limited resources to fulfill the needs are as follows :

Explanation:

On the premise, the following are the methods in which I will utilize the specified resources existing:

Family Farm: If I am from a family farm, My family’s limited resources are land, labor, bulk carts of tractors, and tools which are required for farming. Now my primary needs are food, protection, clothes, schooling, medical facilities, and numerous other goods and services. To fulfill all my requirements or desires, I have to create or produce farming yields (vegetables or food seeds) with the help of resources.

    Now I have a farming product that is created. Some of the features of the product I will keep with me, and the remaining territories I will trade in the demand in business for money. All my other requirements for goods and services will be fulfilled by the money acquired from the sale of my product.

Petty Shopper: If I am maintaining a petty shop or grocery store (small), My restricted resources will be my store, my and my family members' labor, some furniture, and some investment (capital). In the petty shop, originally, I had to fund purchasing all the grocery products I wanted to sell and make a profit.

     Now my primary needs are food, protection, garments, schooling, and numerous other goods and services. To totally satisfy these requirements, I must sell my grocery store and earn a gain. With this gain, I can complete my different needs. But I may not keep purchasing groceries for myself because they exist already with me in my store.

Flower Vendor: I am a flower vendor. Marketing flowers to temples, weddings, and all other functions. At the exact time, my restricted resources are my asset in purchasing flowers, labor, and all other goods and services which are needed to sell the flowers.

    Now my primary needs are food, protection, garments, schooling, and numerous other goods and services. To complete these requirements, I must trade flowers and acquire money.