Explain why a person in Robinson Crusoe by Dr. Robert Murphy @Mises

Question 19 / 21: Explain why a person in Robinson Crusoe's position would want, on any given day, to harvest more coconuts than he or she planned on consuming that day.

Answer:

By producing more than he consumes, Crusoe can save coconuts

over time. This stockpile of savings will help Crusoe if he gets sick

or wants to take a day off in the future. It will also allow Crusoe to

spend his work days making tools instead of collecting coconuts

with his bare hands.

Sample Partial Credit Answer

This way Crusoe can save.

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Economy Foundations

Access: Public Peer Review

Dr.Robert MurphyAssociated Scholar

Mises Institute

USA

Attribution: Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY

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