Economics-Unemployment

These three articles I can relate to very well. In the article, "Why Johnny Can't Choose", he talks about scarcity and a person's needs and wants. I agree that people needs and wants exceed the resources to fulfill them. When I go shopping for anything I take on opportunity cost, will I be giving up my money for something I need or want and 85% of the time it's something I need. When I'm shopping I often ask myself do I really need this or do I want this. "There is no such thing as a Free Lunch", this is very true I have this fight with my self about how much income to save and how much to spend every pay day or how much loans I have to take out for school. Everyday there is a decision made to give up something I want to get something I need, which is opportunity cost. In the article "They Clapped", this article I can't relate to personally being that I had experienced the worse hurricane in my life yet to come which was hurricane Andrew. In this time of need I experienced scarcity, price gouging, supply and demand and opportunity cost. Ice and food, and water were scarce. We had to wait on trucks to bring in ice and food and when they did arrive in the community you had to be one of the first in line or there wasn't enough to go around. I watched how others would receive their ice and food and try to sell it to someone else who really needed it. We had others trying to sell generators for more than the retail price, gas was higher than usual and it was the most common scarcity, but I don't think anyone thought about being a victim of price gouging, because people were willing to pay for whatever they can get to survive. We had to sacrifice a lot to get what we need. My family had to stay in a trailer for about 2 years until our house was rebuilt. We had to downsize our living space to get what we need. Mr. Evans made a good point that if prices were not able to rise it would be first come/first serve.