What is scarcity? Why is it considered the fundamental problem of economics? Give examples of how scarcity affects your life.

Scarcity is a shortness of supply

Explanation:

When an item is scarce, it is irreplenishable in a short time and it is a finite resource. For example, gold is scarce, wind is not- it is not a finite resource. This concept of scarcity creates a limited supply in economics, and when demand for the item increases, the price also increases. In other words, there is not enough of this particular item to provide for everyone on the earth. In life, scarcity is what creates a difference values of objects. This is why cookies are cheap and gold is expensive. Cookies can be quickly baked and replenished, whereas   you cannot create more gold.  

d. the great plains       hop3 this yo

1) checks and balances- this idea is implemented in the constitution to ensure that no one branch of the federal government gains too much power. for example, the legislative branch(congress) can approve a bill that will then be sent to the executive branch (president). if the president does not like the bill or thinks that it violates the rights of citizens, he/she can veto the bill. vetoing the bill stops the bill from becoming a law. this check on power ensures that congress makes laws that do not violate the rights of citizens.

2) anti-federalists do not want to ratify the constitution unless it includes a bill of rights. the anti-federalists are worried that the constitution gives too much power to the federal government. having a strong central government caused problems when the us was still part of great britain. this is why the anti-federalists are fearful of this type of system.

3) federalists want a new constitution passed because it will fix america's weak political structure. before the us constitution is implemented, the constitution being used is known as the articles of confederation. this constitution has an extremely weak central government, allowing for disunity among the states.

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