Mamshungulii
Senior Member
- May 3, 2023
- 175
- 88
One receives more If he Produce more and receives less if he produces less. More production means more reward for those who produces more, means more income. In the past the reward was not paid as money. The money did not exist and whatsoever was produced was the income of the individual.
Those who produced more become rich and those who produced less remained poor. Every individual is involved in increasing his income so as to enable himself to satisfy to the maximum extent of his unlimited wants. Those who satisfied more of their wants, and had availability of more quantity and better standard of living than others.
EVERY INDIVIDUALS OBJECTIVES WERE TO IMPROVE THEIR STANDARD OF LIVING BY WAY OF SATISFYING MORE AND MORE OF THEIR WANTS.
Previously even today, every individual is trying to earn more income. Example majority of Tanzanians are poor. They do not inherit riches to enable themselves to lead a comfortable life. They have most of their wants unsatisfied. Their income is too low to make both ends meet. They cannot increase it because they cannot save out of it to invest. Many of their wants may remain unsatisfied even till their death.
DO THEY LOSE HOPE OR STOP DOING WORK?
Knowing the importance of ever-multiplying wants and to enjoy a better standard of living; Only a few people do make it possible and earn good incomes and enjoy a better and comfortable life. A majority of people remain poor despite their best efforts.
HOW CAN THESE PEOPLE EARN MORE INCOME AND HOW CAN THEY GET RICH QUICKER? HOW CAN THEY IMPROVE THEIR STANDARD OF LIVING?
These are problems of individuals. The groups of individuals in the form of families also face the same problem. These are also problem of an economy itself. An increase in individual income can ease the problems of an individual similarly, the increase in national income can ease the problem of economy.
Economy is a system or organisation that provides living for its people. Each and every country has its own organisation to provide living to its people and has its own peculiar economy.
Tanzania economy includes all activities which help to produce goods and services. As any economy is an organisation that provides living to its people, it is improvement standard of living of the people which has uppermost priority for an economy.
The economic growth of the country is the basic objective of every economy. The standard of living of people can be improved only if the higher rate of economic growth is achieved. For a country like Tanzania, economic growth has tremendous importance. Urbanization and high rate of growth of population has made the problems of Tanzania much more serious than ever. There is not only widespread unemployment or underemployment but also the mass poverty. A big portion of the population lives below the poverty line.
THE ACHIEVEMENT OF HIGH ECONOMIC GROWTH CAN POSSIBLY BE THE ONLY WAY OUT FOR THE TANZANIAN ECONOMY TO PROVIDE ITS POOR PEOPLE A BETTER STANDARD OF LIVING.
In Tanzania the factors of production are partly owned and controlled by the private sector and partly owned and controlled by the state. Besides, the severe problems of mass poverty and widespread unemployment in Tanzania the main or the central problems of the economy are as follows: -Allocation of resources (what, how and for whom to produce), Fuller utilisation of resources
Growth of resources.
Tanzania being mixed-economy has given a free hand to market forces of price mechanism in the private sectors. The state's central planning through 5-to-10-year plans, is trying to achieve the high rate of economic growth for the country.
The public sector is playing an important role in solving the problems of the Tanzanian economy. In continuing its efforts of increasing the National income of the country so as to provide better standards of living to its people.
Every economy is trying to develop as fast as it can. One of the ways to know about the economic development of a country can be in terms of the growth of National income of the country; if the income of a nation grows, its people will be rich and will be getting more and better goods and services to consume. Their standard of living will improve. Smoothly availability of goods and services will check the rising trend in prices; whereas a fall in national income will create scarcities and people will suffer due to rising trend of prices. Their standard of living would fall. Every economy has unlimited wants of its people and a majority of these could be satisfied only if the country were a rich country.
THE INCREASE IN NATIONAL INCOME IS OF GREAT IMPORTANCE FOR ANY COUNTRY.
If the National income of a country doubled with population remain unchanged the standard of living will improve considerably. Alternatively, if the population also doubled, the people will not have any improvement in their standard of living. Also, if the population increasing at the higher rate than the rate in increase in the National income then the plight of the people will be more miserable than before. The people will be poor and have their sufferings increased.
For-example, Japan is a rich country and Tanzania is poor country. Japan is rich because it has more availability of goods and services for its people. Tanzania is poor because as compared to Japan it has got less availability of goods and services to its people. As compared to Zimbabwe and Burundi Tanzania can be called a richer country. Japan as well as Tanzania is trying to achieve higher rate of economic growth.
If the Tanzanian are able to get more goods and better quality of goods for their consumption than before then it will be considered as a better condition for Tanzania and for Tanzanians. However, this can be possible if the production of the goods and services is increased and per person availability of goods and services is improved.
View: https://www.instagram.com/p/C4vzUJqLTY8/?igsh=MTl3dGl1cWQ4Zzd6Zw==
View: https://www.instagram.com/p/C4h-tM9NpPO/?igsh=MXV4NzRnanBwMXpvNQ==
Those who produced more become rich and those who produced less remained poor. Every individual is involved in increasing his income so as to enable himself to satisfy to the maximum extent of his unlimited wants. Those who satisfied more of their wants, and had availability of more quantity and better standard of living than others.
EVERY INDIVIDUALS OBJECTIVES WERE TO IMPROVE THEIR STANDARD OF LIVING BY WAY OF SATISFYING MORE AND MORE OF THEIR WANTS.
Previously even today, every individual is trying to earn more income. Example majority of Tanzanians are poor. They do not inherit riches to enable themselves to lead a comfortable life. They have most of their wants unsatisfied. Their income is too low to make both ends meet. They cannot increase it because they cannot save out of it to invest. Many of their wants may remain unsatisfied even till their death.
DO THEY LOSE HOPE OR STOP DOING WORK?
Knowing the importance of ever-multiplying wants and to enjoy a better standard of living; Only a few people do make it possible and earn good incomes and enjoy a better and comfortable life. A majority of people remain poor despite their best efforts.
HOW CAN THESE PEOPLE EARN MORE INCOME AND HOW CAN THEY GET RICH QUICKER? HOW CAN THEY IMPROVE THEIR STANDARD OF LIVING?
These are problems of individuals. The groups of individuals in the form of families also face the same problem. These are also problem of an economy itself. An increase in individual income can ease the problems of an individual similarly, the increase in national income can ease the problem of economy.
Economy is a system or organisation that provides living for its people. Each and every country has its own organisation to provide living to its people and has its own peculiar economy.
Tanzania economy includes all activities which help to produce goods and services. As any economy is an organisation that provides living to its people, it is improvement standard of living of the people which has uppermost priority for an economy.
The economic growth of the country is the basic objective of every economy. The standard of living of people can be improved only if the higher rate of economic growth is achieved. For a country like Tanzania, economic growth has tremendous importance. Urbanization and high rate of growth of population has made the problems of Tanzania much more serious than ever. There is not only widespread unemployment or underemployment but also the mass poverty. A big portion of the population lives below the poverty line.
THE ACHIEVEMENT OF HIGH ECONOMIC GROWTH CAN POSSIBLY BE THE ONLY WAY OUT FOR THE TANZANIAN ECONOMY TO PROVIDE ITS POOR PEOPLE A BETTER STANDARD OF LIVING.
In Tanzania the factors of production are partly owned and controlled by the private sector and partly owned and controlled by the state. Besides, the severe problems of mass poverty and widespread unemployment in Tanzania the main or the central problems of the economy are as follows: -Allocation of resources (what, how and for whom to produce), Fuller utilisation of resources
Growth of resources.
Tanzania being mixed-economy has given a free hand to market forces of price mechanism in the private sectors. The state's central planning through 5-to-10-year plans, is trying to achieve the high rate of economic growth for the country.
The public sector is playing an important role in solving the problems of the Tanzanian economy. In continuing its efforts of increasing the National income of the country so as to provide better standards of living to its people.
Every economy is trying to develop as fast as it can. One of the ways to know about the economic development of a country can be in terms of the growth of National income of the country; if the income of a nation grows, its people will be rich and will be getting more and better goods and services to consume. Their standard of living will improve. Smoothly availability of goods and services will check the rising trend in prices; whereas a fall in national income will create scarcities and people will suffer due to rising trend of prices. Their standard of living would fall. Every economy has unlimited wants of its people and a majority of these could be satisfied only if the country were a rich country.
THE INCREASE IN NATIONAL INCOME IS OF GREAT IMPORTANCE FOR ANY COUNTRY.
If the National income of a country doubled with population remain unchanged the standard of living will improve considerably. Alternatively, if the population also doubled, the people will not have any improvement in their standard of living. Also, if the population increasing at the higher rate than the rate in increase in the National income then the plight of the people will be more miserable than before. The people will be poor and have their sufferings increased.
For-example, Japan is a rich country and Tanzania is poor country. Japan is rich because it has more availability of goods and services for its people. Tanzania is poor because as compared to Japan it has got less availability of goods and services to its people. As compared to Zimbabwe and Burundi Tanzania can be called a richer country. Japan as well as Tanzania is trying to achieve higher rate of economic growth.
If the Tanzanian are able to get more goods and better quality of goods for their consumption than before then it will be considered as a better condition for Tanzania and for Tanzanians. However, this can be possible if the production of the goods and services is increased and per person availability of goods and services is improved.
View: https://www.instagram.com/p/C4vzUJqLTY8/?igsh=MTl3dGl1cWQ4Zzd6Zw==
View: https://www.instagram.com/p/C4h-tM9NpPO/?igsh=MXV4NzRnanBwMXpvNQ==
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