After reading the attached article on scarcity (File below), write an essay with at least a minimum of 700 words and not to exceed a maximum of 1,000 words about how Covid 19 and scarcity have affected what the author describes as your “bandwidth.” Specifically, write about how COVID 19 and scarcity have affected your educational goals and career aspirations.
For example, approximately 21 million jobs have been lost and that number is going to increase. The unemployment rate is projected to increase to 20 percent and probably more. Some economists speculate 1/3 or more Americans who were laid off are not looking for work and consequently not counted as unemployed. The highest rate of US unemployment was 24.9 percent in 1933 during the great depression. This is definitely a rough time to be graduating from universities in terms of entering the job market and beginning new careers.
When you are writing your essay, please write about your experiences during this time of COVID-19, how you are being impacted and how this is effecting your educational goals and career objectives. Please do not forget to include the five economic concepts below in your essay.
As the instructor I should be able to determine that you have read the article and understand the content by incorporating the following five concepts with definitions and examples:
1.Economic decision rule
2.Opportunity costs
3.Scarcity
4.Invisible forces
5.Macroeconomics or the macro economy
