( I need help), 1. Briefly describe the main difference between "scarcity" and "shortage". 2. How does What? How? and For Whom? (questions that all societies must answer) a direct result of dealing with the problem of scarcity? 3. What could a producer (makes G&S and sells them in product markets) do if there was a shortage of one of the factors of production? 4. What point on the Production Possibilities Model shows (a) unemployment? (b) inflation? (c) future economic growth (d) To which point is the U. S. Economy closest TODAY? 5. Have you ever waited in a LONG line just to get some product (good or service)? Explain how that is a result of scarcity/shortage?

1. Briefly describe the main difference between "scarcity" and "shortage".

Scarcity is the general condition of all human societies that arises from the fact that human needs are always greater than resources available.

Shortage occurs when the supply of a good does not meet demand at a specific point in time. For this reason, shortage can be ended if more of the good is supplied.

2. How does What? How? and For Whom? (questions that all societies must answer) a direct result of dealing with the problem of scarcity?

Because resources are limited, societies have to ask what to produce (and what to forgo), how to produce (how to use limited resources as efficiently as possible), and for whom (how to distribute the goods and services).

3. What could a producer (makes G&S and sells them in product markets) do if there was a shortage of one of the factors of production?

Because a shortage of a factor of production raises costs, the producer can either increase prices, or reduce production.

4. What point on the Production Possibilities Model shows (a) unemployment? (b) inflation? (c) future economic growth (d) To which point is the U.S. Economy closest TODAY?

The model shows the possibilities of future eocnomic growth with the available resources. The U.S. Economy is very efficient and developed and as a result, it is close to the efficient points on the production possibilities frontier curve.

5. Have you ever waited in a LONG line just to get some product (good or service)? Explain how that is a result of scarcity/shortage?

A common good that sometimes people have to wait in lines for is prescription drugs. This is a result of shortage because at any point in time, the supply of prescription drugs is higher than demand.

native american contribution: the patriots from britain learn how to hunt, fish, and introduce diversity within cultures.

african americans: indirectly introduced the idea of diversity to americans. africans coming to america because of slavery taught white americans that people come from different backgrounds and colors. it also built america's economic stability for a great period of time. 

women: make america what it is today. there are some societies that are in the world currently that do not give women the same right we give women here in the united states. because women have rights here in the united states, other countries' citizens strive to come to america, especially women, since they have equal rights in the united states. this is important because america is seen and desired by many in the world. 

children: children are our future. we learn from our elders and carry out things the same or differently learning from america's history. we continue tradition and change tradition if it is needed.