Scarcity Notes and Assignment, Exercises of Poetry

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SCARCITY

The condition that exists because human wants

exceed the capacity of available resources to satisfy

those wants.

Rewrite the above definition for scarcity in your own words.

WHAT IS SCARCE? It’s 3 am and someone knocks at your door...

ASSIGNMENT

Your assignment is to write a song or a poem about

scarcity.

You must define scarcity in your own words.

You must also tell what problems scarcity causes for

people.

You should include other economic concepts in your

lyrics when possible: Supply, Demand, Needs,

Wants, Opportunity Cost