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World-famous footballer Cristiano Ronaldo's earnings are estimated at approximately three hundred and eighty-five thousand pounds sterling per week, which is approximately seventy-five million Jamaican dollars per week. In contrast, a healthcare professional can earn less than two hundred thousand Jamaican dollars per month, and many sanitation workers earn less than fifty thousand Jamaican dollars per month.

Questions:

1. Do you consider the services of football players like Cristiano Ronaldo more beneficial and essential compared to the services provided by healthcare workers, sanitation workers, and educational professionals?

2. What, in your opinion, accounts for the vast disparity in remuneration for the groups mentioned above?

3. Explain how the concepts of scarcity, choice, and opportunity costs influence the huge disparity in remuneration mentioned above.

Answer :

Whether the services of a football player like Cristiano Ronaldo are considered more beneficial and essential compared to the services provided by healthcare workers,

sanitation workers, and educational professionals is subjective and depends on individual perspectives. Different professions have varying impacts on society, and their importance can be assessed based on different criteria such as health, education, entertainment, or cultural value. The vast disparity in remuneration between professions can be attributed to various factors, including market demand, supply and demand dynamics, skill scarcity, bargaining power, revenue generation, and societal values. Sports like football attract significant attention, sponsorship deals, and media coverage, leading to high revenues for clubs and players. This allows top athletes like Cristiano Ronaldo to negotiate high salaries. On the other hand, professions such as healthcare and sanitation may face limitations in revenue generation and funding, resulting in comparatively lower salaries.

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