Question
Resources are very scarce; and at the same time, have competing uses. Economics continue to evolve as a disciplined method of thinking about the choices
Resources are very scarce; and at the same time, have competing uses. Economics continue to evolve as a disciplined method of thinking about the choices we make in this world of limited resources. And we have made ton loads of such rather costly choices in the last couple of months, here in Canada, just as in other countries of the word in light of the covid-19 pandemic. We are all now very familiar with the catchphrase "flatten the curves" as the diagram below shows. Briefly describe the choices you make and/or continue to make, the choices the province (Nova Scotia or where you live) and Canada make, as indicated in the curves, in response to covid-19 pandemic, according to the dictates of Economic science.
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