economic scarcity (10 slides), powerpoint help

User Generated

nabalzbhff

Business Finance

Description

Your presentation should be at least 10-slides and include a cover and a reference page. Be sure to include citations in the body of the presentation.Prepare a PowerPoint presentation discussing the articles you researched on the topic of economic scarcity.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Economic Scarcity
Student’s Name
Institutional Affiliation

Definition
Economic Scarcity
It is a phenomenon in the economy where there exist unlimited
societal needs for the available insufficient resources (Smith, 2013).
• For example, most economies have limited availability of
resources, such as money and time to satisfy unlimited individual
basic needs.

Discussion
Note:


Economic scarcity is the primary cause of the non-zero cost of
the consumer products (Barbier, 2013).

• Additionally, all resources that are acquired at a certain price, are
considered as scarce products in the economy because non-scarce
resources are often free, for example, solar energy, air, and the
wind.

Flow Chart on Economic Scarcity
Insufficient
Resources

Scarce Goods
and Services

Unlimited
Needs/Wants

Three Societal options in resolving the issue

Economic
Growth

Efficient
allocations of
Resources

Improved usage of
available resources

Efficient
Production of...

Related Tags