Scarcity is a simple idea. It means that the things we need and want are limited, but our desires go on forever. This idea is part of our daily lives because we often have to choose how to spend our time and money.
Why It Matters:
Choices: We can't have all the things we want, so we have to decide what really matters to us.
Opportunity Cost: When we pick one thing instead of another, we miss out on what we could have done or bought.
Knowing about scarcity helps us make better choices in life!
Scarcity is a simple idea. It means that the things we need and want are limited, but our desires go on forever. This idea is part of our daily lives because we often have to choose how to spend our time and money.
Why It Matters:
Choices: We can't have all the things we want, so we have to decide what really matters to us.
Opportunity Cost: When we pick one thing instead of another, we miss out on what we could have done or bought.
Knowing about scarcity helps us make better choices in life!