Article Analysis #1- Economic Scarcity
For this first analysis, you need to find a recent article that reflects the economic principle of scarcity. The word scarcity does not appear often, so you need to think outside the box and look for articles that show shortages. For example, you might look for articles about the gasoline shortage, a nursing shortage, homelessness (housing shortages), or fresh water shortage. Remember, the definition of scarcity, is there an inadequate amount of a good or service to meet our demand? So look for something that shows inadequate supply and/or excessive demand. Also remember, that scarcity is reflected in a price change. A higher price shows a good is becoming more scarce.
Article Analysis #1- Economic Scarcity
For this first analysis, you need to find a recent article that reflects the economic principle of scarcity. The word scarcity does not appear often, so you need to think outside the box and look for articles that show shortages. For example, you might look for articles about the gasoline shortage, a nursing shortage, homelessness (housing shortages), or fresh water shortage. Remember, the definition of scarcity, is there an inadequate amount of a good or service to meet our demand? So look for something that shows inadequate supply and/or excessive demand. Also remember, that scarcity is reflected in a price change. A higher price shows a good is becoming more scarce.
Article Analysis #1- Economic Scarcity
For this first analysis, you need to find a recent article that reflects the economic principle of scarcity. The word scarcity does not appear often, so you need to think outside the box and look for articles that show shortages. For example, you might look for articles about the gasoline shortage, a nursing shortage, homelessness (housing shortages), or fresh water shortage. Remember, the definition of scarcity, is there an inadequate amount of a good or service to meet our demand? So look for something that shows inadequate supply and/or excessive demand. Also remember, that scarcity is reflected in a price change. A higher price shows a good is becoming more scarce.