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Is there any corporation working toward post-scarcity society?

Economics Dec 12, 2020

Is there any corporation working toward post-scarcity society?

Expert Solution

Resources such as raw materials and human labour are insufficient to meet the unlimited demand by consumers for goods and services produced using them. The objective of economics is to inform individuals about the best decisions that they can make in order to reduce scarcity as much as they can.

A corporation is a joint organization of individuals that is recognized and legally approved by the law to carry out particular activities as a single unit. Some corporations are responsible for issuing stock while others have the goal of making profit.

A post-scarcity society refers to an economic society in which majority of the goods and services can be acquired at cheaper prices. In fact charging for the goods is unnecessary. The production of those goods and services is done using minimal labour and their supply is unlimited. A post-scarcity society is unachievable because scarcity cannot be completely eliminated but it can be just reduced by making the right economic decisions.

No corporation is working towards a post-scarcity society because it is realistically unachievable. It is just a fiction.

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