Discussion A Introduction To Economics

Welcome to the first discussion. In this course you will be introduced to a topic in the discussion. The first week of the module you will write about your initial thoughts after reviewing the resources. The initial post should be at least 300 words.
During the following week you will reply to at least two of your classmates. The replies should be at least 100 words. See the discussion rubric for more details on grading.

1. Review the following:
Read Chapter 1 in the course textbook.
2. Initial Post (300 words)
Answer the following question in a scholarly post of 300 words or more:
Discuss why everyone, whether poor or affluent, faces the problem of scarcity.

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3. Reply Posts (2 100-word posts)
Do you agree or disagree with your classmates’ posts, or can you offer different insight? Reply to 2 students.

SAMPLE SOLUTION

Scarcity is a common economic problem and arises from resources insufficiency to meet people’s needs. Scarcity is universal. Rich individuals face scarcity when they require more than they can purchase, when they cannot be in different places simultaneously, and when, accordingly, they must pick among options. Some individuals assume exception to the words that rich persons face scarcity, assuming that it suggests sympathy for the rich. However, scarcity is not an issue of sympathy but a mere fact concerning the link between unlimited wants and limited resources (Arnold, 2014). This the case because as an individual’s resources increase, their needs also increase. Additionally, poor people face scarcity, but it is important to note that poverty and scarcity are not the same things.
Scarcity, therefore, is not an issue that can be handled. It is a condition that rationally needs peoples’ address to improve their living standards. The only way to attain this is by making choices. Since resources are limited in connection to wants, individuals must decide how to use available resources (Geoffrey, 2019). This is even…

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