“The three central coordination problems any economy must solve are what to produce, how to produce it, and for whom to produce it” (Colander, 2004a, p. 5). Generally, individuals want more than is available which creates a problem of scarcity where there are too few goods available to satisfy individual desires. As our textbook states, “all scarce goods or rights must be rationed in some fashion. These rationing mechanisms are examples of economic forces, the necessary reactions to scarcity” (Colander, 2004b, p. 9). The U.S. rations food by price which is determined by supply and demand. Despite technology advances, scarcity would never be eliminated as new wants are constantly developing as can be seen in the many new products continually introduced on the market. The attached article published in the Beaumont Enterprise in October of 2006 deals with the dilemma of scarcity and how it affected the United States (U.S) orange juice market at that time
The article......

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Title: Internet Article
Approximate Word Count: 697
Approximate Pages: 3 (250 words per double-spaced page)

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