GLE42 -- Scarcity v. Shortage
About this set
Created by:
TimeMachine Teacher on October 1, 2011
Description:
42. Analyze situations involving scarcity (limited resources) at the individual, group, and societal levels to determine the need for choices or what is gained/lost by a decision (E-1A-M1)
Classes:
CMM Social Studies Teachers, Mr. Blankenship's Study Group, Mr. Blankenship's Louisiana History
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5 terms
Terms | Definitions |
|---|---|
 Scarcity | "___" means that we will always want more than we have. ___ is always a part of human existence. |
| shortage | A "___" is a temporary lack of some resource. In January 2008 Shreveport experienced a ___ of clean drinking water when a problem occurred at the city's water plant. Most grocery stores quickly sold out of bottled water |
| goals | We must choose how to use our limited resources to achieve the ___ that are most important. |
| Dismal | Economics is called "The ___ Science" because it examines the impact of scarcity on our lives. |
| Economics | "___" is the study of how to make the best choices in the use of our limited resources given the permanent problem of scarcity. |
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