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Scarcity: the first fact of economics — Homework
Scarcity in the real world. Answer in complete sentences.
- 1.Define scarcity, and explain how it differs from a shortage.
- 2.List three resources scarce in your own life this month.
- 3.Explain why even a billionaire faces scarcity.
- 4.State the three questions every economy must answer.
- 5.Pick one "sold out" or waitlist you've seen. Explain it as scarcity forcing a choice.
🌲 Homeschool for the FutureTwelfth Grade · History · week 19 homework