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Scarcity

Fundamentals of Economics. Scarcity. Anticipation Guide. The best things in life are free. Things cost more today than they did back in the good old days. Anything worth doing is worth doing well. Natural resources are infinite and are constantly regenerated. Scarcity.

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Scarcity

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  1. Fundamentals of Economics Scarcity

  2. Anticipation Guide • The best things in life are free. • Things cost more today than they did back in the good old days. • Anything worth doing is worth doing well. • Natural resources are infinite and are constantly regenerated.

  3. Scarcity • Wants exceed the amount of resources available • All resources are limited • The needs and wants of people are unlimited • The scarcity of resources leads to competition

  4. “Natural Resources” Text-Dependent Questions • How do the author’s choice of words and the tone of the language used illustrate the author’s point of view on the topic? • What words really call your attention here? Why do those words stand out? • What kind of text is this? How do you know? • How did Table 1 and Figure 1 help you understand the author’s points? • Explain how the author uses reasons and evidence to support his point of view. • What is the author’s point of view on the topic? What makes you say that? • Explain the cause and effect relationship in the text. • What is the overall tone of the text?

  5. Anticipation Guide • The best things in life are free. • Things cost more today than they did back in the good old days. • Anything worth doing is worth doing well. • Natural resources are infinite and are constantly regenerated.

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