Economic approach to explain the existence of prostitution Essay

Economic approach to explain the existence of prostitution - Essay ExampleAs a result, the opportunity cost of forsaking a wife or a girlfriend for a prostitute is that, an individual is able cut on supererogatory expenses meant to please a girlfriend. Further, an individual would save on time that is wasted while trying to please a girlfriend or wife with picnics, dinner party or visiting holiday resort (Merriam-Webster, 2013). In addition, the m acey that is channeled to a wife or girlfriend can be used for other person-to-person gains such as improving ones business venture. The cost benefit of accessing the operate of a prostitute is that the buyer can select from varieties, and one is not compelled to stick on one marketer. In essence, the quality that the buyer gets depends on how much the buyer can pay. The business is flexible in the sensory faculty that a buyer can assess the sellers services depending on the amount the buyer can pay. In this context, the higher the qua lity of the services rendered, the higher cost for the buyer and vice versa. In the business of prostitution, the buyer is not interested in establishing a relationship, but to access the services of the seller on a short term basis. This is more convenient comp ared to a stable relationship where the buyer (male) is compelled to provide both material and emotional support. many responsibilities lots arise from a relation, and as a result, the prostitution business is on high demand at the present due to the buyers avoiding responsibilities of marriage and face for short term pleasures.... However, it is the male who often feel pinched as a result of spending exorbitantly on gifts and other pleasantries while receiving no(prenominal) on return (Postrel, 2006). While, on the other hand, the sellers are professionals who only engage in satisfying the desires of the buyer in a short period where both interject out winners. The buyer gains in terms of pleasure provided and commensur ate with the payment while, the seller gains in terms of payment for services by the buyer. Buyers are often attracted to a quick delivery of services in which no attachment are formed so as to save on unlooked-for expenses in the future that, is a product of a long term relationship. As a result, in terms of cutting on the cost of maintaining a relationship, prostitution offers an alternative for buyers to budget for pleasure rather than an impulsive spending influenced by relationship bonds (Postrel, 2006). On the other hand, the seller in this business often the women engage in the business for a number of reasons. It could be that the business pays highly, or it is a cheaper means of earning a living for those who engage in the business. mercantile sex as a business provides one of the easiest forms of employment in the sense that, one only need to provide a few proceeding of pleasure to the buyer to earn some money (The Economist, 2013). However, the payment within the busine ss often vary and is influenced by a number of reasons that include the record of pleasure and risks exposed to the seller. There are sellers who earn meagre amounts from the business while others make millions from the same business. Commercial sex is competitive, and the seller needs to come up with appropriate business