Understanding Scarcity and Economic Choice

Miacademy & MiaPrep Learning Channel

This educational video introduces students to the fundamental economic concept of scarcity. Hosted by an engaging presenter named B, the lesson begins with a relatable scenario of shopping in a favorite store to illustrate the tension between unlimited human wants and limited resources. The video breaks down the specific limitations that cause scarcity—money, time, and exclusivity—and clearly defines it as the core problem that the field of economics seeks to solve.