15
RESOURCE ALLOCATION ECONOMICS OF SCARCITY
RESOURCE ALLOCATION
ECONOMICS OF SCARCITY
AreasArea Land mass Pop Cult land Prot $ Per cap $
Africa
Asia
Europe
Latin Am
Australia/OceaniaNorth AmericaAntarctica
Land mass each area comprisesArea Land mass Pop Cult land Prot $ Per cap $
Africa 20
Asia 30
Europe 7
Latin Am 12
Australia/Oceania
6
North America
16
Antarctica 9
World AreasPie graph
Africa
Asia
NorthAmerica
Latin America
Europe
Oceania-Australia
Antarctica
Population of the land massArea Land mass Pop Cult land Prot $ Per cap $
Africa 20 11
Asia 30 60
Europe 7 14
Latin Am 12 6
Australia/Oceania
6 1
North America
16 8
Antarctica 9 0
Area Land mass Pop Cult land Prot $ Per cap $
Africa 20 11 5
Asia 30 60 12
Europe 7 14 20
Latin Am 12 6 5
Australia/Oceania
6 1 4
North America
16 8 12
Antarctica 9 0 0
Cultivated land…living area
Protein distribution
Area Land mass Pop Cult land Prot $ Per cap $
Africa 20 11 5 9
Asia 30 60 12 4
Europe 7 14 20 22
Latin Am 12 6 5 14
Australia/Oceania
6 1 4 7
North America
16 8 12 44
Antarctica 9 0 0 0
Income distribution
Area Land mass Pop Cult land Prot $ Per cap $
Africa 20 11 5 9 3
Asia 30 60 12 4 20
Europe 7 14 20 22 29
Latin Am 12 6 5 14 6
Australia/Oceania
6 1 4 7 2
North America
16 8 12 44 40
Antarctica 9 0 0 0 0
Per capita income (per person)Area Land mass Pop Cult land Prot $ Per cap $
Africa 20 11 5 9 3 740
Asia 30 60 12 4 20 940
Europe 7 14 20 22 29 8,230
Latin Am 12 6 5 14 6 1,900
Australia/Oceania
6 1 4 7 2 8,950
North America
16 8 12 44 40 13,910
Antarctica 9 0 0 0 0 0
LORENZ CURVE
• A GRAPHIC REPRESENTATION OF EQUAL VS UNEQUAL INCOME DISTRIBUTION
SCARCITY
• Unlimited wants
• I WANT• I WANT• I WANT
• Limited resources
• NOT ENOUGH• NOT ENOUGH• NOT ENOUGH
….TIME, MONEY,FOOD, CLOTHING
CAUSES OF SCARCITY
1. POOR DISTRIBUTION
2. RAPID INCREASE IN DEMAND
3. PERSONAL PERSPECTIVE
1. REDISTRIBUTE THE RESOURCES
3. MAKE BETTER USE OF OUR RESOURCES
2. MAKE MORE RESOURCES
SOLUTIONS TOTHE PROBLEM OF SCARCITY
4. GO WITHOUT
REMEMBER:
GIFT OF THE MAGI
Jim and Della or….
Economic phrases:Economics, ScarcityOpportunity costs,
& Barter
ABOUT THAT SURVEY ON HUNGER STATS…
