Watch the videos and answer the questions below. I put the links above each picture.

THIS IS THE LINK TI THE VIDEO THAT SHOULD HELP YOU:

https://www.youtube.com/watch?v=iy-fhpbTH9E

https://vimeo.com/331311542

Step 1: Please start by watching these videos: Scarcity | Basic economics concepts | Economics | Kha e'resources copy link Watch on YouTube And This one: https://vimeo.com/331311542Step 2: Now you apply these concepts: You have to make a decision. Your favorite band is having a concert in town and you really want to go! The tickets are expensive, though, and there are so many things you could do with that money. You could: _ Buy the concert ticket Use the money to see ve movies Use the money to buy the band's new CD plus a pair ofjeans Save the money for your vacation 1) What will you do? Choose one of the above or something else and explain why you made your choice. 2) What does Economics mean to you? What does it have to do with the example above? : 3) What do you think of when you hear the word Scarcity or Scarce? Explain. : 4) How do you determine what things you choose to buy or not to buy? What is the difference between something you need and something you want? 5) Why are some things more expensive than others? Intro to Economics Follow along with the Video and complete the questions below. htt 5: www. outube.com watch?v=3eleADR M 1. l 1:44l What do you already know about economics? 2. (3:16) What is economics? (Select your best choice) A. The study of money and getting rich B. A science that deals only with the stock market C. The study of people and choices D. People predicting what will happen in a market 3. (4:39) Describe a situation in which you had to weigh the costs and benets of a decision. 4. 5:40 What is o n 0 ortuni _ cost? Provide an exam 1e. 5. (6:43) Which of the following statements best describes scarcity? (Select 1) A. People have unlimited wants but limited resources. B. Inexpensive production means more profit. C. There is a cost to every decision. D. Analyzing cost and benefit is not important. 6. (9:39) Why is it so important to get incentives right when creating a policy? 7. (11:35) How did this video change the way you think about economics