The Scarcity Of Social Studies Classes - 3672 Words

Chapter 1 Resources, such as the number of social studies classes available to rising juniors at Ridge High School, are limited. The wants and needs of humans, on the other hand, are quite the opposite. Therefore, there are not enough resources to be evenly spread through the populace. This is known as scarcity. Economics is the study of the choices people are forced to make due to the omnipresent scarcity of resources. The scarcity of social studies classes available to rising juniors at Ridge, as well as the institutions mandating my education forced me to make a choice between CP, Honors, and AP Gov Econ. Many economic factors were at play in my decision to enroll in AP Gov Econ, including cost-benefit analysis and opportunity cost, my human capital and utility, and barriers to entry. Scarcity necessitates choices, and when people make choices, they receive benefits and incur costs. The costs are highlighted by the value of the next best alternative of the choices, or the opportunity cost. In this case, my next best alternative to taking AP Gov Econ would be to take Honors Gov Econ. To decide which class was the best one to take, I used cost-benefit analysis. I weighed the marginal costs and benefits of each class. AP would mean a heavier workload and harder assignments, but would greater prepare me for the future. In addition, a good grade in the class (knock on wood) will work wonders for my GPA, and this combined with a good score on the AP testShow MoreRelatedEconomic Theories : Supply And Demand1510 Words   |  7 Pagescorrelation between the relationships of all aspect of economic theories. Cultural Studies and Symbolic Interaction: Context and Variance Social interactionism is a subdivision of sociology that investigates behaviors in a social context and how they interact with the help of symbols (Earwicker). 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