Posts tagged scarcity
Basic Economic Problem – Part 1
Aug 21st
We are introducing some important concepts (ideas) in Economics while following the IGCSE Economics Syllabus which has the following requirements:
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To help us understand these concepts, we can use some very useful youtube videos and some interactive quizzes and other links.
The Economic Problem (Finite Resources and Unlimited Wants)
Needs and Wants by kathycassidy
Needs and Wants by alamberth
A quiz via http://www.businessstudiesonline.co.uk on Needs or Wants – click here.
Scarcity & Choice by mjmfoodie
Notice the definition given of Economics.
The Economic Problem is also nicely summarised here:
Scarcity by stephenmonrad
The above video has already introduced some of the resources we would need to make the things we want. In Economics, resources are referred to as the Factors of Production …
2) The Factors of Production
Resources by mjmfoodie
A very quick summary quiz on factors of production via http://www.dineshbakshi.com – click here
The World’s Most Typical Person
Mar 7th
The world’s most typical person is male and in terms of the mode average ethnic group, is a Chinese, Han man. His age, in terms of median average is 28. The typical face shown above is built of 190 000 photos of 28 year old ethnic Han men. But as the video tells us, he won’t be the most typical person for long …
As World Population approaches 7 billion, NationalGeographic have created a brilliant infographic-style animation, complete with catchy tune and thought-provoking statistics. (There’s also a healthy qualifier in there – “typical is always relative”).
A great starter for population studies or even for discussions about global inequality, like the World Scaled Down to A Village of 100 idea. It might also have value in Theory Of Knowledge discussions of data and what we mean by ‘typical’ and ‘ethnicity’. There’s even a bit relevant to the economic concept of ‘needs and wants’ at the very end.
Packed full of cross-curricular uses, it is simply a ‘must see’.
