Lesson 24 of 84 · Economics
⭐ 30 XP⚓ Market PortScarcity: Not Enough for Everyone
Scarcity is the fundamental economic problem: not enough resources for everyone's wants.
🎯 Your mission
Trade-offs everywhere — find them.
⚡ The twist
Cheap for you usually means expensive for someone else.
Mind = Blown
🤯 The first ATM was installed in 1967 — and used radioactive ink.
Then & Now
💱 Every receipt you've ever seen has this idea inside it.
Scarcity is the fundamental economic problem: not enough resources for everyone's wants. Because of scarcity, people must make choices about using what is available.
Key Facts
Money is a medium of exchange.
Needs are different from wants.
Supply and demand affect prices.
Check Your Understanding
Question 1
1 of 2What is trade?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Track every dollar you spend or get this week. Then figure out the pattern.
For the dinner table
“If you had $20 to start a business, what would you sell?”
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Scarcity: Not Enough for Everyone
Trade-offs everywhere — find them.
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