Monthly Archives: November 2012

Keynes vs. Hayek

Link to today’s activity Economic freedom around the world Who won the battle?

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Scarce Resource: Jobs

          Job scarcity refers to the number to the number of workers who are not formally employed. Job scarcity is different from unemployment because to be unemployed you have not worked in 7 days and you have to … Continue reading

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Scarce Resources: Water

  Water is a resource that every human being on the earth uses. Without water, none of us would be here. The average American uses 2,000 gallons of water a day between drinking water, using it for utilities, and using … Continue reading

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Petroleum

Petroleum is hidden underground in pockets of the Earth called pores. It’s scarce because of increased demand. Petroleum’s used for a lot of things such as transportation fuels, which is very important. Petroleum, by definition, is a liquid mixture of hydrocarbons … Continue reading

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Oil is Becoming Scarce

Oil is becoming a scarce resource. Oil comes from sea plants, and sea creatures that are mixed in with sediments then covered with sand or rock. After years these sediments are heated and squashed to form oil. It then accumulates … Continue reading

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Diamonds

Diamond comes from the Greek Adamas, meaning indestructible.This is a fair name to give them, as they are the hardest known natural material on Mohs Scale of Mineral Hardness. The density is one of the reasons it is prized so much … Continue reading

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Wildlife habitat

Over the years, wildlife habitat has become scarcer and scarcer.  This valuable resource is important for the ecosystem of our world to function.  This resource is natural, and requires no mining or drilling for our earth to get it.  But … Continue reading

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Minerals

A mineral is anything that is not a plant or an animal; by definition, it is any inorganic homogenous substance. Minerals, such as iron and copper, are used to make many products all over the world. The fact that they, … Continue reading

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Natural Gas

Natural gas is a scarce resource in our world. It is a hydrocarbon gas, and a mix of methane with other hydrocarbons, carbon dioxide, nitrogen, and hydrogen sulfide. It comes from deep underground rock formations in various locations around the … Continue reading

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Scace Resource: Gasoline

Our world today consumes a great amount of gasoline. Everyday, millions of people use gasoline to fuel their automobile to get to work, school, etc. Due to the heavy uses of gasoline, the supply is shrinking and the prices are … Continue reading

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