Basic Economic and Scarcity Problems Video Discussion

Basic Economic and Scarcity Problems Video Discussion post must be 10+ sentences and the peer reviews must be 7+ sentences please use your own words and do not copy from other sites stay on topic, be positive, and do not comment on grammar errors.

Basic Economic and Scarcity Problems Video Discussion
Basic Economic and Scarcity Problems Video Discussion

Talk directly to classmates in peer reviews!!! You must complete both peer reviews and discussion question!! Thank you

1) Discussion Question

“Scarcity Problems”

Watch this short video: Scarcity: The Basic Economic Problem to help you think about this week’s discussion.

Start your discussion by responding to these questions:

What is the scarcity problem you’ve experienced in your work or home life?

What system could you use to manage your scarcity problem?

Continue the conversation with your peers:

Read one of your peer’s scarcity problems and provide an additional idea for a system to help solve their problem.


Good morning,

A few years ago I moved out on my own. I was struggling a lot and with the job that I had at the time, they did not want to pay me more. I realized that my money was a scarcity problem because it was something that I needed in order to survive and it was also something that I had so little of.

I needed to come up with a plan to make sure that I had enough money to survive and live comfortably. I ultimately decided that I needed to find another job. I started to apply for different jobs and was getting turned down for every one of them.

They all stated the same thing (I need to have some type of degree or certification). So I decided to go back to school to get a degree. A few months later I found a job working at a bank.

I have since received my associate’s degree and I am almost done with my bachelor’s degree. My job gives me a raise every year and they also provide tuition reimbursement.

I am also promised a promotion once I obtain my bachelor’s degree. In this case not having enough money was my scarcity problem and the way that I decided to manage it was going back to school and getting a better paying job


Good morning class and Professor ~

I currently work in one of the 10th largest school districts in the nation. We are currently faced with a severe deficit of available/qualified substitute teachers, leaving us with the demand superseding the supply. In recent weeks, we have been left with multiple unfilled ‘open’ jobs, leaving us to move staff around and split classrooms.

This is posing a hardship across the district as it is affecting the quality of education, and the need to give teachers much deserved time off. During the government shutdown, we held job fairs to quickly vest those laid off and fill many opening.

Though temporary, it offered some resolution. As a way to manage this situation, our county is actively campaigning for higher compensation to attract potential candidates in this position. We are also reaching out to our community in the hopes of growing our supply pool.

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