Scarcity and rivalry Basic Economic Concepts Microeconomics Khan Academy

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https://www.khanacademy.org/economics-finance-domain/ap-microeconomics/basic-economic-concepts/ap-economics-introduction/v/economic-models
This video discusses two closely related ideas in economics: scarcity and rivalry.
Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/introduction-to-the-economic-way-of-thinking-macro/v/economic-models
Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/ap-macroeconomics/basic-economics-concepts-macro/introduction-to-the-economic-way-of-thinking-macro/v/scarcity
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
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