Hass project part 1

Hass project part 1
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Storyboard Text

  • Hey guys, Bill Nye the science guy here. In today's episode we will be looking at scarcity, but what is scarcity? 
  • Scarcity is the problem of every human having unlimited wants but not having enough resources to go around.  
  • Hello there!
  • An example of this could be, if Billy here wanted a block of chocolate.
  • However, if everyone else wanted a piece too there would not be enough for everyone.
  • To solve this problem people use money to buy things. Whoever has the money gets the item, money is earned by working. This brings us to opportunity costs.
  • Correct, Billy! Great work!
  • Like choosing between eating food or sleeping. It can be hard to choose., because if I choose food I give up sleeping.
  • Opportunity costs is the time you spent doing something when you could also be doing something else.
  • In terms of earning money you might have to decide where to work or what to spend it on.
  • Correct again Billy! Thank you viewers for watching this episode of Bill Nye the science guy and remember to put your wants before your needs.
  • I would also like to thank Billy for helping out here and I will see you in the next episode, bye!
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