Imagine that you were born and raised in a wealthy family. You can buy what you want, go to places you love and enjoy the things that money can buy. You wanted to become a doctor so you pursued your education and graduated with honors. The only problem is that, since you are the heir of the CEO of a large business company, you cannot practice your profession as a doctor. Instead, you are forced to succeed the business of your family. Thus, you are now working as a businessman.
Identify the economic problem that can be seen from this scenario.
explain your answer.
Identify the economic problem that can be seen from this scenario.
explain your answer.
Answers & Comments
For whom to produce?
You have no freedom to choose what your career will be. Because having a large business company makes you and your family wealthy. But if you chose to be a doctor and just focus on your dream, your family business will go downhill. And we all know that family is our first priority, so instead of focusing to your dream, you are going to run the company for your family needs.
Answer:
You have no freedom to choose what your career will be because having a large business company will enrich you and your family, but if you choose to become a doctor and focus only on your dream, your family business will be ruined.