ECONOMY 1

Some people think that we live in a society where money and possessions are given too much importance. Others believe that this is improving our lives.

Discuss both these views and give your own opinion.

Comments about the task:

  1. This is a both sides and opinion essay
  2. For the first side, you must mention both money and possessions

Plan:
Side A
1.Too much focus on money
2.Loss of values

Side B
1.Creates wealth
2.Creates jobs

Model Answer:
There are those who argue that consumerism causes people to place excessive value on material goods and wealth. While others think that a consumer culture is beneficial for improving people’s standard of living. This essay discusses both sides of this argument and then I will give my own perspective.

There are two drawbacks to a materialistic society. One of which is that it causes people to consider wealth as the only pathway to happiness. Therefore, people might spend too much time on earning money and very little time with their families and friends. In addition to this, the traditional values such as frugality might be lost in a consumer society. This might cause a throw-away culture and overconsumption problems. As a consequence, a depletion of natural resources and excessive disposal of waste might cause the environment to be damaged. Eventually, inhabitants will suffer from pollution and inadequacy of resources.

Materialism does have its benefits. The most significant advantage of a consumer culture is that it generates wealth for a country. The taxes paid for goods, such as the Australian goods and services tax, will increase the revenue for the whole society. Afterwards, the government can reinvest in education and healthcare to benefit the citizens. Furthermore, more employment opportunities will arise from the jobs created for manufacturing, advertising and retailing. This will see more local residents earning a good income and reduce poverty, which is of clear benefit to the welfare of a country.

To conclude, I believe that consumerism does provide some benefits. However, I am inclined to believe that the drawbacks of a greedy, materialistic society far outweigh the advantages because the level of consumption is not sustainable and future generations will inherit a planet with fewer resources and higher levels of pollution. [294 words]

Language:
consumerism = increasing consumption of goods
material goods =long lasting products
standard of living = level of life quality
frugality = care with spending money
throw-away culture = culture where people throw away products instead of trying to repair them
overconsumption = using too much
depletion = reduction
inhabitants = people living in an area
inclined to believe =more likely to believe

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