Question

explain the economic implications of not having to eat. what would be different?

explain the economic implications of not having to eat.
what would be different?

Homework Answers

Answer #1

Not having to eat will have a very significant economic implication. A high portion of total economic activities are related to product distribution and consumption of food. Not having to eat will make a large number of economic activities redundant. This will reduce output and income as well. Moreover, having to eat is a primary motivation to work. Therefore, not having to eat will reduce labor supply as a willingness to work will be less. In fact, some people might prefer not to work at all. If we are not required to eat, there will be no food scarcity problem to solve. Economics will be a much less popular subject as a big economic problem will cease to exist.

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