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Question: Scarcity Problems"

Watch this short video: Scarcity: The Basic Economic Problem to help you think about this week's discussion

Start your discussion by responding to these questions:

• What is a scarcity problem you've experienced in your work or home life?

• What system could you use to manage your scarcity problem?

• I live on a very tight budget I chose to use a lot of coupons when I shop for groceries, makeup and toiletries. I set a budget out for myself for a certain amount of money and then I take my time and use my coupons for everything that I buy. When I get to the check out counter sometimes I get money back from using my coupons because the item that I'm buying might be on sale that week and I have a coupon for that same item. It takes a little longer to shop but in the end when I walk out the store with everything I written down on my grocery list and extra cash in my pocket from my savings for that day

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M93123072
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