SCARCITY AND ABUNDANCE

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SCARCITY AND ABUNDANCE

• Unit 1
• Lesson 2

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Unit 1, Lesson 2Visual 1Two Definitions of
Scarcity

• A situation in which human wants are greater than
  the capacity of available resources to provide
  for those wants.
• A situation in which a resource has more than one
  valuable use.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• A Old Economics textbooks collected in a
  bookcase near the teachers desk with a sign that
  says, Free books, take as many as you want. The
  books have been there for three years.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• A Answer
• Not Scare
• No Alternative use

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Unit 1, Lesson 2Activity 1Which Examples
Illustrates Scarcity?

• B Old economics textbooks collected in a
  bookcase near the teachers desk with a sign that
  says, Free books, take as many as you want.
  Another sign posted in the hallway says, 10
  paid for any recycled textbook. Bring books to
  the Principals office.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrates Scarcity?

• B Answer
• Scarce
• The books may be read or they may be recycled.
  Two alternative uses

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• C One economics textbook, five students who wish
  to do well in the economics course, and an
  important test in class the next day.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• C Answer
• Scarce
• The one book could be used by five different
  people it has alternative uses

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• D One economics textbook, five students who are
  not taking economics, and an important test in
  class the next day.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• D Answer
• Not Scarce
• Same number relationship, but the information in
  the book is not valuable to the five students

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• E Petroleum in Japan, a country without its own
  oil fields or oil reserves

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• E Answer
• Scarce
• Petroleum has many valuable uses in Japan

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• F Patroleum in Saudi Arabia, a country with many
  oil fields and oil reserves.

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Unit 1, Lesson 2Activity 1Which Examples
Illustrate Scarcity?

• F Answer
• Scarce
• Petroleum has many valuable uses in Saudi Arabia,
  and it can be sold to people in other countries.
  Several valuable uses.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• A Water fountains in Rome flow continuously with
  water carried by viaducts from the Italian
  mountains.
• People walking in Rome quench their thirst by
  drinking from the fountains.
• But most of the water flows into the street and
  down the drains to a river that passes through
  the city.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• A Answer
• Scarce resources treated as not scarce
• The water has other valuable uses, such as
  irrigation or sewer treatment.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• B At closing time, restaurants in the U.S. are
  required to throw away all uneaten food.
• To meet health standards for food preparation and
  the safety of consumers, the food cannot be
  stored for use the next day.
• Also, the law prohibits restaurant employees from
  giving the food to the poor or dispersing it to
  local food banks.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• B Answer
• Scarce resources treated as not scarce
• The food could feed the hungry it could be
  stored for future consumption or it could be
  used as compost to improve soil conditions in
  gardens

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• C Oxygen is taken from the air and stored in
  containers.
• When divers wish to stay underwater for long
  periods of time, they purchase container-stored
  oxygen and breathe from it during their
  underwater activities.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• C Answer
• A difficult example
• Oxygen in the air around us is not scarce. People
  acquire it at no cost
• Oxygen underwater is scarce, as are the resources
  needed to capture oxygen and store it in
  containers for underwater use.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• D Pebbles are taken from a beach to build a
  walkway in a homeowner's lawn.
• No one else wants the pebbles.
• The pebbles are not necessary for the lakes
  ecosystem or animal habitat.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• D Answer
• Scarce resources treated as not scarce
• The pebbles have no valuable alternative use. The
  resources necessary to move the pebbles are
  scarce. They could be used for other valuable
  purposes.

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• E A farmer has a water irrigation contract that
  requires the water user to use the entire
  allocation of water to water crops, whither or
  not all the water is needed for crop irrigation
• If the farmer does not use all the water, he or
  she will receive a smaller allocation next year

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Unit 1, Lesson 2Activity 2Are People Treating
Resources as Scarce

• E Answer
• Scarce resources treated as not scarce
• The farmer is prohibited from considering other
  valuable uses for the water.