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About Me
- Marquita Hockaday
- I am in my mid 20's and currently back in school working towards my MFA in Creative Writing. I am excited about delving into my love for writing and mixing it with my passion for history.
Scarcity is when you have too litle amount of something. Choice is when you have to choose what you want because you can't have everything you want. So some things are scarce and you have to chose not to use or pick it. Opportunity cost is what you lose when you choose one thing over the other. All three of these things have one thing in common, that is that they all have to do with the economy.
ReplyDeleteIm just guessing here but i think scarcity and choice are related because you have to choose something because of scarcity--you cant have everything you want or need. And i learned the definitions of scarcity, opportunity cost, and choice this week and what they each mean. It all has to do with economy and supply and demand.
ReplyDeleteMichelle- it seems like you are sure to me! That was a great response :) Good job!
ReplyDeletescarcity is when you don't have of something for everybody. and choice consists of the mental process of thinking involved with the process of judging the merits of multiple options and selecting one of them for action.
ReplyDeleteRaheim Hamilton
Scaricity means to have little than needed of something. Choice means to choose something. Opprotunity cost is the thing you didn't pick from your choices. So when something is scarce you need to choose something and the one you didn't choose is the opprotunity cost.
ReplyDelete- Austin McCaskey
Robert Spencer
ReplyDeleteScarcity is not having enough of one thing to go around. Oppurtunity cost is what you give up when you buy something. Choice is selecting what you want.
If an item is scarce, then there has to be a different choice. Choice means that you select an item from other items. Opportunity costs are given up. Scarcity is when you don't have enough of an item.
ReplyDeleteI think scarcity and choice are related because when somethings scarce, you have to make a choice. Like if you dont have enough money for something or theres not enough of a product(then they're scarce) you hsve to make a choice. I also learned that scarcity, oppurtunity cost, and choice are all related and effected by each other. I Know that if somethings scarce you have to make a choice and leave an oppurtunity cost. I learned what they each mmeans also. Mostly i learned about the economy and making choices.
ReplyDeleteScaricity means the inability to satisfy all wants at the same time and Choice means selecting an item or action from a set or possible alternatives. This week, I learned that choices are things people have to make/choose and make decisions. Oppurtunity Cost is whats given up when a choice is made. Scarcity is used when choices are made. All of these words are related in some way.(: [= [= <3 :) :]
ReplyDeleteTommie Faye Curtis<3
ReplyDeleteScarcity is where you dont have enough of a resource and choice is what you choose. So sometime when 2 items are scarce and you have to choose between them the one you choose is your choice and the one you don't is your opportunity cost! opportunity cost is what you didn't get or gave up. this week i learned that every thing affects everything scarcity, choice, opportunity, cost, supply, demand they are all lnked together and all create a solution, sometimes god others bad....
scarcity means to have little than needed of something. Choice choose between two or more things. Opprotunity cost means the thing you didnt pick from your choices.so when something is scarce you need to choose something and the one you didn't choose is the opportunity cost
ReplyDeletescarcity means you dont have enough of something to satisfy the needs of the people. choice is when you have to choose something like the color of a car, red or green. opprotunity cost is what you dont pick. like if you decide to get a red car instead of green then green is your oppurtunity cost.
ReplyDeleteshelby elliott
scarcity and choice are related because based on how scarce something is you have to make a choice on whether to buy that product.This week i learned how oppurtunity cost,scarcity, and choice relate. For example you have to keep in mind the oppurtunity cost choice and scarcity when buying something in the store.....
ReplyDeleteScarcity happens when the supply is low and the demand is high. Choice is what you decide to purchase or consume. If there's not enough of what you want to consume, then you cannot get what you want. There for, your choice ends up changing. I learned a lot about scarcity, opportunity cost, and choice. Opportunity cost is like when you have enough money to buy 1 thing when you want 2 things. Like, if you have $1.50 and the drink you want to purchase is $1.75 and the candy bar you want is only $0.99. The opportunity cost is the drink since you do not have enough to purchase it.
ReplyDeleteScarcity means that you don't have enough of something that everybody wants right then and there. As if you had only two drinks but you had three people that all wanted one drink each. In other words you don't have enough to be fair and give everybody what they want. Opportunity cost is like if you want to get two things but you only have enough to get one of the things, the thing that you don't get (the thing you give up) is the opportunity cost. A choice is just what you think and pick out of more than one thing. Like if you had to to make the choice to get a cat or a dog and you chose to get a dog then the dog would be your choice.
ReplyDelete-your truly Amber Furman<3
Choice and scarcity are related, because when you have scarcity you have to make a choice. also you have to mak e choice between to things you want in a store cause you cant always have what you want and the object you dont choose becomes your oppurtunity cost. This week I learned that oppurtunity cost, scarcity, and choice are all related to economics and also in how you choose things you want and need.
ReplyDeleteJERRY ARNETTE
ReplyDeletescarcity and choice are related because if something is scarce hen it will not be the choice of the consumers.choice is where you choose to get something. oppurtunity cost is where you choose what to give up for something else.and scarcity is where there is a little amount of goods.
Scarcity is something not fulfilling someones desires, choice is what you have to choose from when you can only have one thing out of two or more things. So basically choice and scarcity are pretty opposite. Cause you dont really have a choice when something is scarce you can't have it. We have learned about opportunity cost and that would be what you don;t get when you have to choose , sadly :l cause you cant always have everything. then we have also learned about how things can be scarce such as things that productions no longer have or could also be sold out. choice is what choose between before you have your opportunty costss,
ReplyDeleteJB ,
Scarcity effects your choice because if the item is scarce, there is not enough for everyone. Therefore, you have to choose one of the two items. People most likely choose the one that costs less. The item that you don't choose is your opportunity cost.
ReplyDelete