Topics may include: abortion, world poverty, animal rights, immigration, physician-assisted suicide, freedom of religion, hate speech, cloning, income inequality, pornography, gun rights, racial profiling,
The fundamental economic problem is the issue of scarcity but unlimited wants. Scarcity implies there is only a limited quantity of resources, e.g. finite fossil fuels. Because of scarcity, there is a constant opportunity cost – if you use resources to consume one good, you cannot consume another. Therefore, an underlying feature of economics is concerned with dealing how to allocate resources in society to make the most efficient and fair use of resources. The main issues are:
What to produce?
How to produce?
For whom to produce?
Business and Economic Issues.
The definition of contemporary is existing at the same time or of the present time period. An example of contemporary are the works of Fitzgerald and Hemingway. An example of contemporary is furniture in the modern style.