{"id":30,"date":"2020-03-24T04:51:21","date_gmt":"2020-03-24T04:51:21","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/video-scarcity-and-choice\/"},"modified":"2023-05-22T19:20:37","modified_gmt":"2023-05-22T19:20:37","slug":"video-scarcity-and-choice","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/video-scarcity-and-choice\/","title":{"raw":"Video: Scarcity and Choice","rendered":"Video: Scarcity and Choice"},"content":{"raw":"<p>Throughout this course you'll encounter a series of short videos that explain complex economic concepts in very simple terms. Take the time to watch them! They'll help you master the basics&nbsp;before heading to the readings (which tend to cover the same information in more depth).\n\nhttps:\/\/youtu.be\/yoVc_S_gd_0?t=1s\n\nAs you watch the video, consider the following key points:\n<\/p><ol><li>Economics is the study of how humans make choices under conditions of scarcity.<\/li>\n\t<li>Scarcity&nbsp;exists when human wants for goods and services exceed the available supply.<\/li>\n\t<li>People make decisions in their own self-interest, weighing benefits and costs.<\/li>\n<\/ol>","rendered":"<p>Throughout this course you&#8217;ll encounter a series of short videos that explain complex economic concepts in very simple terms. Take the time to watch them! They&#8217;ll help you master the basics&nbsp;before heading to the readings (which tend to cover the same information in more depth).<\/p>\n<p><iframe loading=\"lazy\" id=\"oembed-1\" title=\"Episode 2: Scarcity and Choice\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/yoVc_S_gd_0?start=1&#38;feature=oembed\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>As you watch the video, consider the following key points:\n<\/p>\n<ol>\n<li>Economics is the study of how humans make choices under conditions of scarcity.<\/li>\n<li>Scarcity&nbsp;exists when human wants for goods and services exceed the available supply.<\/li>\n<li>People make decisions in their own self-interest, weighing benefits and costs.<\/li>\n<\/ol>\n","protected":false},"author":32,"menu_order":3,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-30","chapter","type-chapter","status-publish","hentry"],"part":25,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/30","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/30\/revisions"}],"predecessor-version":[{"id":31,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/30\/revisions\/31"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/25"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/30\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=30"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=30"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=30"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=30"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}