An amendment takes an act of two-thirds of Congress and
ratification by three-fourths of the states. The changes in the amendment could
be proposed either in Congress or states. The proposal must have 2/3 of both
houses in congress agreeing to the amendment. Meanwhile, the state must as well
have 2/3 of the state legislatures to propose the amendment. Regardless of
whoever proposed the amendment, it must be ratified by ¾ of the states.
Stage 5!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Scarcity refers to the basic economic problem, the gap between limited – that is, scarce – resources and theoretically limitless wants. This situation requires people to make decisions about how to allocate resources efficiently, in order to satisfy basic needs and as many additional wants as possible.
Scarcity dictates that economic decisions must be made regularly in order to manage the availability of resources to meet human needs. Some examples of scarcity include: The gasoline shortage in the 1970's. Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity.
Scarcity is simply the concept that human wants (not human needs) exceed the resources available that are necessary to produce the goods used to satisfy those wants. Since economics is the study of how people make choices, without scarcity there would exist no choice and, hence, no economics.
Hope this helps:)
The south was reeling the benefits of slavery and the crops such as cotton, tobacco, and sugar cane.
