Scarcity and the principles of economics

“What is Economics?”

1-Identify a recent purchase that you made and determine how scarcity influenced your purchase decision.

2- Give an example how scarcity of a product would have an impact on a macroeconomic and microeconomic level. Explain your rationale.

 

“Principles of Economics”

3- Analyze what your opportunity costs have been in terms of personal resources that you have given up in order to take this course at Strayer University.

 

4- Explain two ways in which you applied the use of marginal cost and benefit to your decision to pursue a college degree.