ECON 1010 Chapter Notes -National Post, Pearson Education, Lifesaving
18 Jun 2014
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List some examples of scarcity in the united states today. An example of scarcity at the economy-wide level would be people with lower incomes being forced to choose between food and gasoline due to high prices for both. An example of scarcity at an individual level would be a person unable to afford life-saving (or life-enhancing) medicine. At a more student-oriented level, examples of scarcity include not enough income to afford both tuition and a nice car and not enough learning capacity to study for both an economics exam and a chemistry exam in one night. Use the headlines in today"s news to provide some examples of scarcity around the world. A headline in national post in july 2008 was last-frontier forest is at risk from boom. this story discusses how the global resource boom is threatening one of the world"s last tropical-forest frontiers: the merauke region of indonesia .
