Please focus two assessments of economic value and make a statement based on your own understanding and experience ???i need two real life example with proper data and framework ?? Please provide as soon as possible

2. Choice under scarcity: Consider an actual scarce resource that requires efficient allocation and provide an economic analysis that applies to this scarce resource for a given economy (e.g., underground water, ocean and biodiversity, arable land, vaccines, etc. ). In this analysis, consider the following: a. Explain why scarcity of this resource exists for the economy under consideration. Use data to justify. b. Provide a framework and valuation methods that could be used to quantify the economic values of the scarce resource (see, for example, the framework and valuation methods of groundwater services provided in George, et al., 2011; see also THIS)