What is scarcity, and how does it relate to your needs and wants? Be specific about how scarcity impacts you in your life. Keep in mind... what

What is scarcity, and how does it relate to your needs and wants? Be specific about how scarcity impacts you in your life. Keep in mind... what resources of yours are limited? Comment on how scarcity differs from a shortage. Explain a time when you were faced with a decision because of your scarce resources. What were you deciding between? What did you choose? What was the opportunity cost of the choice you made? Our government also has limited resources. Look for a news article that discusses how the government is in the position of having to make decisions about how to use their scarce resources. Based on your article, what are they deciding between?