Surname 1
Name
Instructor
Course
Date
Group Exercise 6 – Time Pressures and Supply
As economies, society, and technology have developed so has the amount of activities
that people can engage in. Unlike during our grandparents’ era, people have more occasions,
appointments, and meetings to attend to. The exponential increase in these activities, hence time
pressures, has been made possible by economic demands. To feed an ever growing economy,
there is a need to keep innovation and supply of new products on the rise. Thus the system has
surpassed human control and now operates within its own mechanics. In America, the capital of
global economics, this phenomenon is rather rampant.
People feel pressed for time when they have more things to do than the time available.
For instance, if one has three meetings to attend, each meeting lasting an average of ten minutes
each, then the person is prone to being pressed for time when they do not have more than that
minutes to spare for all the three minutes. In the principle of demand and supply, we can surmise
that when activities to be undertaken demand more time than the time in supply, the value of
time increases. When alternative activities that seems attractive, one feels pressed for time to
finalize the current activity so as to engage in the new attractive option. So when people are in a
hurry or pressed for time, it actually because their time’s value could get them more, in terms of
fun or interest, if they were engaging in an alternative activity.
Name
Instructor
Course
Date
Group Exercise 6 – Time Pressures and Supply
As economies, society, and technology have developed so has the amount of activities
that people can engage in. Unlike during our grandparents’ era, people have more occasions,
appointments, and meetings to attend to. The exponential increase in these activities, hence time
pressures, has been made possible by economic demands. To feed an ever growing economy,
there is a need to keep innovation and supply of new products on the rise. Thus the system has
surpassed human control and now operates within its own mechanics. In America, the capital of
global economics, this phenomenon is rather rampant.
People feel pressed for time when they have more things to do than the time available.
For instance, if one has three meetings to attend, each meeting lasting an average of ten minutes
each, then the person is prone to being pressed for time when they do not have more than that
minutes to spare for all the three minutes. In the principle of demand and supply, we can surmise
that when activities to be undertaken demand more time than the time in supply, the value of
time increases. When alternative activities that seems attractive, one feels pressed for time to
finalize the current activity so as to engage in the new attractive option. So when people are in a
hurry or pressed for time, it actually because their time’s value could get them more, in terms of
fun or interest, if they were engaging in an alternative activity.
