Scarcity and Choice

Watch this video on scarcity and choice. How do we make choices based on our self-interest when resources are scarce? We know that satisfying unlimited wants is impossible. Finding ways to use scarce resources to optimize society's well-being is one of the most important tasks of economics.


 

Source: Mary J. McGlasson, https://www.youtube.com/watch?v=yoVc_S_gd_0
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Last modified: Wednesday, January 24, 2024, 8:32 PM