M2016 Economics SL Mr. Friedman

This article is about the extraction of platinum which has fallen. It talks about the demand for the metal by automobile companies and increase in the price of automobiles which would cause peoples demands to decrease. Platinum is most preferable used in the making of diesel engines which means most engine companies may face a downfall in their production.

This article is about the choice of college students: attending college and working. Attending college comes at the cost of the money the student could have earned instead by working. However, there is a they can learn in college. Which is the better choice? To attend college? Or to work and earn more money?

The article discusses how water is not recycled. I thought it applied because water is a Free Good but by being discarded in this way we are paying for it to be processed then discarded. I also thought it captured the first thing I learned of how scarce resources are/should be allocated

This article is about if economic uncertainty make you save more - or spend more. It suggests how the answer may depend on your childhood experience and explains why poverty can sometimes be difficult to escape.

This article, by The Time, is considered with the idea that whether economic uncertainty make you spend more or not. The author directly suggests that it depends on the childhood experiences that you went through. Therefore, the article shows how two experiments proved that poverty is hard to escape. The participants in the experiments were forced to make 20 decisions which include a decision between recieving $30 right now or $41$ later. They later proved that poor ones take the money immediately where as the rich ones take the money after.

This article talks about how scarce affordable housing is in California. It talks about how a certain Apartment block with 160 apartments received 4000+ applicants, how to reduce the problem, and the reasons for the problem in the first place.

This article talks about scarcity and how it can be used in marketing. Pliny the Elder is a type of beer is very sought after but they do not make a lot of it. Therefore people find it more valuable because there is less of it.

This is an article from last month, and I took it from "The Economic Times". It talks about how India could face water scarcity in the near future due to their growing population.

I have chosen this topic because it emphasizes the importance of balancing the number of births per year. It can be seen as a really good thing of increasing the number of your race, but it can be a big problem if the population get out of the control and limits the water per people in the country

India is in danger of moving towards water scarcity conditions as per capita availability of water is reducing in the country, due to variations in rainfall and increase in demand for water from industries.

This article about scarcity explain the effects of scarcity on people's economic choices.

I know this may be a bit different, but I still found it quite interesting and figured that I could post it since this definitely deals with opportunity cost and scarcity, lol.

A small but growing number of multimillion-dollar investors requested on a United Nations summit this week to take more aggressive steps towards preserving our planet. A main reason for this movement is carbon dioxide emissions that are produced by combustion of fossil fuels, such as oil, coal or natural gas. Furthermore, this is a direct cause for the rise in average global temperatures over the last 150 years. One of the most significant demands for the government was to invest more in the clean, renewable energy.

Cocoa prices rose to the highest level in three years after reports of demand for the chocolate ingredient surpassed expectations. Cocoa for delivery in September ended Wednesday at $3,185 a ton, the highest closing level since July 7, 2011, on the ICE Futures U.S. exchange.

This article is about the discovery of natural gas and oil in Africa. It focuses on the changing of landscape and unlocking Africa's potential gas and oil opportunities.

A news report focusing on the economic, meaning the resource consequences of the conflict between Ukraine and Russia, and also highlighting Europe`s dependance on Russia`s oil and how European nations would suffer if there were to be a conflict between Russia and the rest of Europe.

Gujarat is experiencing a rainfall deficit due to late onset of monsoon and shortfall of rains in many parts of the state until mid-August.This may lead to water reservoirs being empty before next summer.

I think something should be done about it else those supplying them with the water till next year June may also run out of water. I guess most of their crops are dying out already since there is isn't enough rainfall.

This article is about how the scarce resource of water is affecting Iraq's stumbling economy. Although a "seawater injection" project has been designed to help Iraq's economy, the lack of resources is what is holding them back. There is also a lack of materials (industry sources) being used to extract the water from the fields; pipes, pumps and new kits to separate larger quantities of water are also scarce. Overall, this article shows that Iraq must deal with what materials or resources are vital to benefit themselves. Scarcity of water and labor sources are affecting a boost in their oil production. -Victoria Benavides