Scarcity of Resources

MacKenzie Leonard

EDUC 3125Dr. Ralph Olliges

November 16, 2009

Scarcity of Resources (cont.)What is a Resource?

A resource is any person, place or thing that we utilize in our daily lives.

Types of ResourcesNatural Resources

WaterLumberFood

Agriculture Livestock

Gasoline/Oil

Types of Resources (cont.)Natural Resources can be divided into two

groups:

Renewable vs. Non-renewable.

Renewable Resources – Resources that can be replenished over time.

Nonrenewable Resources – Resources that can never be replenished.

Resource Challenge!Determine whether the following resources are renewable or non-renewable:1. Water2. Trees3. Agriculture4. Sand5. Livestock6. Gasoline/Oil

Answers!Determine whether the following resources are renewable or non-renewable:

1. Water Non-renewable2. Trees Renewable3. Agriculture Renewable4. Sand Non-renewable5. Livestock Renewable6. Gasoline/Oil Non-renewable

Types of Resources (cont.)Man-made Resources

MetalPlasticPaperMoneyGlass

What man-made resources come from natural resources?

Resource Shortages

Watch the following video about scarcity

Discussion Time!

Get into your assigned groups. You have 30 seconds!

Discussion Time (cont.)Questions to think about… 1. How could water shortages affect the

economy on a local or national level? What businesses would suffer?

2. What would you or your family have to sacrifice?

3. What would your life be like if you never had clean water?

4. How can the absence of other natural or man-made resources affect the economy?

Imagine This!

What if there was a lumber shortage in the United States?

What would happen to the price of paper & pencils?

Would you have to sacrifice certain things you loved like books or magazines?

Price and Sacrifice

Scarcity of Resource + High Demand for Resource

=Increased Prices

Increased Prices Personal & Financial Sacrifices

Making Sacrifices

Opportunity Cost – What we sacrifice in order to pursue an activity or to purchase something.

Opportunity Cost (cont.)Example: Your allowance each week is $5.00. After you receive this money you walk to the convenience store and buy your favorite magazine, a bag of chips and a soda. The magazine costs $2.50 and the snacks cost $2.50. Due to the lumber shortage, however, the price of your magazine has doubled! It now costs $5.00 for your favorite magazine. What do you do?

Opportunity Cost (cont.)

You can buy the magazine and sacrifice the bag of chips and soda, or you could buy the bag of chips and soda and sacrifice the magazine. Either way, what you do not buy would be the opportunity cost.

Discussion time!

Discuss in your groups for a few minutes a time when you or someone you knew had to sacrifice something in order to purchase an item or pursue an activity.

OverviewScarcity – Not having enough of particular a

resourceResources - Any person, place or thing we

utilize in our lives.Includes natural vs. man-made resources and

renewable vs. non-renewable resources.Scarcity of resources leads to increased

prices for products made out of that resource.This leads to personal and financial sacrifices.

These sacrifices are called opportunity costs.

AssignmentYou will be creating a graphic organizer of various resources. The type of graphic organizer you use does not matter as long as it is effective in depicting various resources.

Students A&B – Responsible for the design of the graphic organizer.

Students C&D – Responsible for determining natural vs. man-made resources.

Students E&F – Responsible for determining what resources are renewable vs. non-renewable from the list provided by Students C&D.

Upon completion, you will present your work to your fellow students.