dicussion week 1 Economic

“Scarcity Problems”

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

Start your discussion by creating a response 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?

Continue the conversation with your peers:

• Read one of your peer’s scarcity problems and provide an additional idea for a system to help solve their problem.below is provided a peer idea.
• In my home life Scarcity can be lack of money. The car breaks down suddenly and the repairs are costly. Like most of the middle class you are caught between paychecks and your credit can be maxed out. What are you to do to resolve the issue? When I was younger I had to carpool and ask relatives for help. Now that I am older and wiser, I plan better for rainy days so to speak. We have money in savings to accommodate car repairs or even a job loss to be able to pay the mortgage. I think it is important to save for the future rather than have the YOLO – you only live once attitude.