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How might scarcity divide our world or bring it together? You are likely to encounter the concept of scarcity in everyday life. Maybe there is only one banana left in the fruit bowl, and both you and your brother or sister have your sights set on it for an afternoon snack. You might decide to fight over who gets the banana, you might decide to share it, or you might decide that one of you can have it while the other finds a different snack.
Relate this example to the essential question, how might scarcity divide our world or bring it together?
Describe your thoughts on scarcity in the real world.
How can this example be a model for what can happen between countries?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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