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This summer I've been in India, and it's one of the reasons why I found this article interesting. The humidity level in India is incredible high, you easily can feel that when you are outside of the room that has conditioner. But despite the amount of humidity, Indian nation has that huge problem with water. I didn't see Indians using water too much, that's why it seems weird to me that Indians can have scarce of water. Thus after that article I noted how often we hear about water scarcity. Last year I heard about the disturbance of ecosystem of one of the rivers (because of the producing electricity) here in Idaho. So I think it is topic that we hear everyday, but most of us hear, but don't listen. I hope this little article will draw your attention to the water, as it did to me, and you will begin to think and care about scarcity of not only water, but scarce of other things that are habitual for us, that we don't even think that they might be finite.

As all of us know, our world's population is increasing at a rapid rate. They predict that in 2025, there will be 1 more billion people on earth than their are today. So on average, they are predicting that there will be an increase in population of about 80 million people a year. Our resources that we have right now are already scarce, so it will only get tougher. Reporters say the 3 nations that will be most in need of more water will be China, India, and USA due to population growth, increasing irrigation and economic growth. Reporters also say that the amount of extra water needed is equivalent to 20 Nile Rivers. Failure to find the needed extra water could result in great conflicts over water. Also, with climate change (global warming) this will decrease the amount of available freshwater. Furthermore, the water needs to be sanitized to avoid diseases and sickness being spread. The report said that this could cost up to an extra 11 billion dollars a year. I chose this article because it is clearly related to scarcity and is growing concern in our world that needs to be looked at. 2025 is not very far away, and we need to come up with ideas for producing extra, clean water.

Water crisis is a growing problem in our world today. The reducing water supply causes serious problems. It could affect health, production of food, energy etc. According to me it is a matter of grave importance and needs to be dealt with immediately. This issue must be a top UN priority.

This article talks about the importance of caring about the environment because this year there have been alarming weather activities possibly caused by climate change: Droughts, floods, the record melting of Arctic ice and the recent Superstorm Sandy. We can´t affirm that this happened because there is a change in the climate but we have to admit that this is one of the possibilities. If we don´t do nothing the situation will be getting worst. The water level is increasing more than we have predicted and many specialists admit that San Francisco and other cities near the coast might be under water in 20 years. Retrospect, we have neglected the full costs and hidden environmental price tags of economic progress. Only if we are aware of the externalities of our actions can we then build a more organic living environment and actively cut down emissions.

Scientists in Alberta have found evidence that oilsand operations have been sending toxins into the atmosphere for decades. Also, levels of toxins in Namur Lake have tripled since 1960. Critics have raised serious concern over the rising pollution in our atmosphere and lakes. This relates to our lesson for the week because the atmospher and lakes are common access resources. They are open to the common. These resources are becoming depleted because of the overuse of these resources.

It is a very interesting article because it is a very recent theme. In the last week I read that the soot is three times more polluting than the scientist though. It is a very good example of negative externality of production. The toxins in the atmosphere are negative externalities for third parties. The company will produce at q1 concerned in their own cost. The MSC is higher than the MPC and there is a welfare lost from Q1 to the equilibrium point. I think that commons must be protected and to achieve it the government must intervene to save the atmosphere and the lakes because it is our planet and we must save it.

This article talks about the tragedy of commons. The governments are ignoring that instead of reducing the costs and the money used in the public sector they could try to cause an economic growth. This would be better for everybody because the economic growth reduces the deficits better than spending cuts. If we are doing spending cuts in the future we will have to spend a lot of money to fix the common resources and facilities used by all, including our air, water, and public infrastructure. If the problem amount then we will have more difficulties to solve them in the future, we can't leave them for the future generations because we have created those problems and we must solve them.

Over consumption has caused the nation of Kuwait, a country rich with fish, to have fish levels of near-depletion. Few years ago, Kuwait was abundant with fish and the fishermen gave 2 kg of fish when consumers bought only 1 kg. Near the end of the day, the fishermen would just leave the fish out for takes because there were no refrigerators to prolong the life of a caught fish. Yet, this over consumption of fish has depleted the water of fish. Several organizations and environmentalists have been trying to raise awareness for over consumption and this tragedy of the commons.

The increase demand for iPhone 5 causes the Apple shares to close at almost $700. The firm receives two million pre-orders. Most iPhones will be delivered to stores later this week, but some orders may be delayed. An estimate of up to 50-60 million iPhones could be sold by the end of the year. However, the soaring demand causes concerns for the firm, as they may not be enough products to meet the consumers' demands. This could potentially delay the delivery of the products. I chose this article, because I think it relates a lot to the idea of scarcity. Though it may not be the biggest concern that could affect people's lives tremendously (not as much of a concern as problems like shortage of food or water), but it tells us that mass resources can become scarce very easily as a result of high demand for it. This can easily connect to the fundamental concept of economics. That is supply and demand. As a result of high demand for the products, the quantity that can be supplied by the market may not satisfy the consumers' demand. This is also an example of human 'wants.' Most people don't need an iPhone, but because of their 'wants,' they want to get one for themselves. You can see that human wants are infinite and that resources are finite that will eventually become scarce. This could potentially add value to the iPhone 5 if the products become scarce. Bibliography "Economics Basics: Supply and Demand." Investopedia - Educating the World about Finance. N.p., n.d. Web. 18 Sept. 2012. .

It is an article about fish trade between South Korea and Japan. The korean government want to ban the import of fish from Japan because they are afraid of the radioactive water leaks from the Fukushima reactor. This ban on the the fish import from Japan will have an important effect on consumers from Korea because Korean consumers will have a smaller choice of fish to buy and the prices from the local producers may be higher. It will also have effect on the Japanese market because the demand for fishes will decrease and Japanese producers will be probably forced to reduce the production.