Post
Topic
Board Economics
Re: World is full of things what nobody dont need just too much
by
DabsPoorVersion
on 06/12/2023, 08:31:41 UTC
While it is difficult to understand what the OP is trying to say I think they have a point when they talk about our abilities of production exceeding our capabilities of consuming all of those products that are being created.
That's overproduction, there are not enough people to consume the product which leads to more supply than demand. The law of supply and demand describes the changes in the price of a product due to having more supply that circulates in the market.

However partially this can be blamed to those producers of goods creating low quality items that have to be replaced all the time in order to increase their profits, as it could be entirely possible to create much better goods for a higher price but that you may never have to replace over your life, decreasing our usage of resources and the overall wealth spent on those products, but since this will play against those producers they refuse to do this.
The reason why producers continue to create low quality products is because people still purchase those kinds of products. It is a cycle that no one can prevent. As long as there is a demand, people will always find a way to make a profit out of it. Even if it's a low-quality product, as long as it is cheap, people will still buy it.