Scarcity Discussion – Prices exist because of scarcity
Scarcity Discussion
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For this week’s dialogue. Be sure to back up your answers/remarks with quotations from your text, other written sources, the Internet, and biblical scripture.
Prices exist because of scarcity, not everyone can have everything they want right now. During natural disasters or pandemics supplies of things can get very scarce. Shelves are emptied by consumers but over 30 states have a law that prevent prices from increasing during natural disasters, it is sometimes called anti-price gouging. Should prices be allowed to increase during a disaster? Is there a morality aspect to this?
(250-300 wrds)
Below are this weeks study materials
https://saylordotorg.github.io/text_introduction-to-economic-analysis/s05-06-trade.html
https://saylordotorg.github.io/text_introduction-to-economic-analysis/s07-04-international-trade.html
https://saylordotorg.github.io/text_principles-of-macroeconomics-v2.0/s15-01-government-and-the-economy.html
https://openstax.org/books/principles-economics-2e/pages/30-introduction-to-government-budgets-and-fiscal-policy?query=fiscal%20policy&target=%7B%22type%22%3A%22search%22%2C%22index%22%3A0%7D#fs-idp40331664
https://biz.libretexts.org/Workbench/MGT_1010/04%3A_Book-_Introduction_to_Business_(Lumen)/4.02%3A_Economic_Environment/4.2.02%3A_What_is_Economics
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