PPT-When faced with SCARCITY of resources, decisions have to be

Tradeoffs Opportunity Costs TradeOffs This is the decision making process that is occurring in your mind right now Am I going to pay attention to what Mr Nagelhout is saying or am I going to daydream . ECO23/PSY23 Behavioral Economics. Udayan. Roy. A Behavioral Economics Approach to the Poor. Scarcity: Why Having Too Little Means So Much. By . Sendhil. . Mullainathan. and . Eldar. . Shafir. , Times Books, 2013. Frederick Richmond. copyright 2010-2015 Shawn B. Young, All Rights Reserved. 2015 Community Action Agency Conference. Denver, CO. May 11 – 15, 2015. STRESS IN AMERICA™. Paying With Our Health. RELEASED FEBRUARY 4, 2015. SCARCITY- The condition that results from society not having enough resources to produce all the things people would like to have.. What comes to mind when you think of something that is scarce?. ECONOMICS- the study of how people try to satisfy unlimited wants through the careful use of relatively scarce resources.. Even elite athletes, major universities, and professional team owners must make decisions based on limited resources.. A coach cannot assign a talented athlete to play two positions nor can he use his practice time to review every possible on-field contingency.. View as slide show. Scarcity and satisfaction. Adapted from AdPrin.com. Laundry detergent case. In 1972, due to environmental concerns, Miami, Florida, prohibited the sale, possession. , and use of laundry detergent that contained phosphates.. Not enough goods or goodness. SPIRAL . OF. . POWERLESSNESS. Almost everything—from food to energy--is scarce. . Humans are selfish & competitive. . So we’re incapable of coming together for the common good. Unit 1 Lesson 2. What are some examples of scarcity?. SCARCITY. Scarcity.  is a condition where there is less of something available than at least some people would like to have if they could have them at no cost to themselves. Because the total quantity of goods and services that people would like to have always far exceeds the amount which available economic resources are capable of producing in all known human societies, people must constantly make choices about which desires to satisfy first and which to leave less than fully satisfied for the time being. That is, they must constantly decide how best to allocate (apportion or distribute) the scarce resources available to them among the various alternative uses to which they can be put. Thus, scarcity is the fundamental condition that gives rise to the patterns of choosing behavior whose study constitutes the main focus of the academic discipline of economics.. 1. 1. 1. 1. 1. 1. What is . Economics About?. Scarcity and Choice. Scarcity. and choice are the two essential ingredients of an economic topic.. Goods are . scarce. because desire for them far outstrips their availability from nature.. absolute advantage . capital . command economy . comparative advantage. consumer goods . consumer sovereignty . economic growth . economic problem . Investment. Productive resources. C. ase . study Colorado River Basin. LO: explain how the water is being managed in the Colorado River basin. Water scarcity hotspots. According to the International Water Management Institute environmental research . ECO23/PSY23 Behavioral Economics. Udayan. Roy. A Behavioral Economics Approach to the Poor. Scarcity: Why Having Too Little Means So Much. By . Sendhil. . Mullainathan. and . Eldar. . Shafir. , Times Books, 2013. Mitigation Plan. DESA and UN Partners (ECA. , FAO, WMO, UNISDR, UNEP, UNCCD, UNDP). The Capacity Building Program on Water Scarcity and Drought Preparedness and Mitigation Plan for Jordan. Outline. Jordan Water Scarcity and Drought Challenges Overview. Scarcity (pg. . 16). Literacy Rate (pg. 3). Standard of Living (pg. 2). Natural Resources (pg. 14). Push & Pull Factors. Literacy Rate - Standard of Living - Agriculture - Natural Resources – Scarcity – Movement & Migration. Scarcity and Choice. Scarcity and choice are the two essential ingredients . of an economic topic.. Goods are scarce because desire for them far outstrips their availability from nature.. Scarcity forces us to choose among available alternatives. .