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Mr. Paschalidas
CIA 4UO
April 11th, 2016
Economic Concepts:
The main economic concept affecting this article is scarcity. Scarcity is the
fundamental economic problem of having seemingly unlimited human wants
in a world of limited resources. It states that society has insufficient
productive resources to fulfill all human wants and needs. In this article the
scarce resource presented is fresh water. The need (demand) for water is
increasing, especially in areas of agriculture, but the supply is not enough to
fulfill all the needs. There is a lack of available water resources to meet water
needs within certain regions of the world, resulting in water to be a scarce
resource. Another example of scarcity is coal. Just like water, since coal is a
natural resource, it is scarce and the use of it in energy production is
relatively high.
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