How can you relate the electric car to a microeconomic problem? Provide a clear

Question

How can you relate the electric car to a microeconomic problem? Provide a clear and concise statement of the problem to be addressed. The problem statement should be no more than 2 or 3 sentences and in many cases could be contained in a single well crafted sentence. Explain the issue using economic terms , models and concepts. Summarize and conclusion. How can you relate the electric car to a microeconomic problem? Provide a clear and concise statement of the problem to be addressed. The problem statement should be no more than 2 or 3 sentences and in many cases could be contained in a single well crafted sentence. Explain the issue using economic terms , models and concepts. Summarize and conclusion. Provide a clear and concise statement of the problem to be addressed. The problem statement should be no more than 2 or 3 sentences and in many cases could be contained in a single well crafted sentence. Explain the issue using economic terms , models and concepts. Summarize and conclusion.

Explanation / Answer

Electric problem is related to scarcity problem in microeconomics. In microeconomics, the main problem is that of the scarcity of resources. The resources need to be optimized for consumption. Our dependence on fossil fuels have brought our demise in a world which is literally choking us. Fossil fuels have increased pollution to an alarming rate, is the driving force behind global warming and may push ozone depletion to an ever alarming and dangerous situation. An electric car is a better alternative for everyone. It can use solar powers to charge. This way can even reduce our resource scarcity problem to a minimal because solar power is unlimited.

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