Question

analyzing the following topic:

In what ways does "scarcity" play a role in your daily life and decision making?

In answering this question everyone should also consider discussing:

How the invisible hand of self interest influences our decision making

The four principles that guide choices made by individuals

Explaining how trade-offs and opportunity costs fit into the decision making process

Possibly look at charting a Production Possibility Frontier that illustrates a specific decision

Answer 1