1.Based on your own understanding, define and give a situational example of scarcity.

2. Articulate 1 learning point from the video "Scarcity, the Basic Economic Problem." Cite the time on the video then explain.

3.Articulate 1 learning point from the video "The Circular Flow Model of a Market Economy." Cite the time on the video then explain.

References

For number 2 : https://www.youtube.com/watch?v=1cYMW5d_bn4

For number 3 : https://www.youtube.com/watch?v=_PKH2wtDT3E