Problem 1: What is Scarcity, give an example and explain how your selected "item" is scarce.
Problem 2: How can you use a CBA (Cost Benefit Analysis) in your personal life?
Problem 3: What is specialization and give an example.
Problem 4: Give an example of how a professional sports team can use a CBA when signing players
Problem 5: Explain the difference between micro and macro specialization, citing examples.