1.1 DEFINITIONS AND QUESTIONS All economic questions and problems arise because human wants exceed the resources available to satisfy them. Scarcity(稀缺性) The condition that arises because the available resources are insufficient to satisfy unlimited wants. Faced with scarcity, we must make choices—we must choose among the available alternatives. The choices we make depend on the incentives we face. 1.1 DEFINITIONS AND QUESTIONS Incentive-(激励) An incentive is a reward or a penalty—a “carrot” or a “stick”—that encourages or discourages an action. (胡萝卜加大棒) Economics The social science that st
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