Economics: The Study Of Scarcity And Choice

One of the things that young people discover as they grow older is that you can't have everything. You are reminded of it every time you shop. Although you may see twenty or thirty items that you would really like to buy, you know that you will have to limit your selection to one or two. Everyone goes through life having to make choices.
Every business, even sports teams, must pick and choose from among the things they would like to have because, like you and me, they cannot have everything.
Governments, too, cannot have everything. Every year the most important political debates concern questions about spending taxpayers' money.