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AP Macroeconomics 1.1 Scarcity Part 1: Article An alysis- Read the arttcfe excerpt from wwwabcnewsgocom and compl'ete the following. Have you ever wondered where your
AP Macroeconomics 1.1 Scarcity Part 1: Article An alysis- Read the arttcfe excerpt from wwwabcnewsgocom and compl'ete the following. Have you ever wondered where your food comes from? YouTube star Andy George did, and he took it into his own hands to find out. George's latest endeavor was to document the entire process of making a "simple" chicken sandwich from scratch....The entire ingredients list for the sandwich included lettuce, tomatoes, onions, cucumbers, dill, peppers, garlic, sunflowers, eggs, salt, honey, wheat, milk, and of course, one live chicken. George posted his entire sandwich-making process in a YouTube video... George produced all of the ingredients himself. This included planting seeds in a community garden to grow vegetables, extracting honey from a local bee farm, milking a cow to make butter and cheese, and processing wheat to create bread...f|']he hardest ingredient to retrieve for the sandwich was the salt. George had to travel from his hometown of Minneapolis to the Pacific Ocean to collect salt water, which he then processed into salt....The entire project took six months and cost $1,500. 1. Explain why George's sandwich cost so much more than a similar sandwich sold at your local deli. a. 2. Why is it unlikely that George truly produced everything he needed to make the sandwich himself. Give an example that supports your reasoning. a. Part 2: \\deo Analysis - Watch the 2010 video about Panera Cares cafe and compl'ete the fol'fowthg. 3. Assume that someone got a sandwich from Panera Cares cafe but did not donate. Explain why this is not an example of a \"free lunch\". a. 4. Explain why the pay-what-you-can model can be used by Panera Cares cafe, but likely not all the other businesses along the supply chain (ex: farmers, ranchers, veterinarians, delivery drivers, etc) a. 5. In your opinion, does Panera Cares cafe refute the assumption that everyone acts in their own self-interest? a. Part 3: Putting it All Together - Read the quote from economist Ben Bernanke & complete the foffo wing. \"Textbooks describe economics as the study of the allocation of scarce resources. That definition may be the 'what' but it is certainly not the 'why.\"' 6. In your opinion, why is it essential for people to understand the advantages and disadvantages of different economic policies
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