EVONOMICS 101

EVONOMICS 101
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  • scarcity is the state of being scarce or in short supply of something that is needed somewhere for something.
  • the american american and his lack of food is a example of scarcity because they don't have a lot of stuff in Africa
  • The gasoline shortage in the 1970's is a prime example of scarcity because back then there wasn't that much gas hat we could use
  • supply and demand, suppl is the amount of a product that is available and demand is something that somebody needs and demands.
  • the apple and lemon is an example of supply because the shelves are stocked with it and demand because people are buying it.
  •  the ham and cherry is an example of supply because the shelves are stocked with the ham and cherry and demand is the person buying them
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