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The Impact of Resource Scarcity on Human Activity and Global Trade Dynamics

Human desires are boundless, yet the resources available to society are limited, leading to scarcity. This scarcity compels societies to trade, as no nation can produce everything it needs. The uneven distribution of resources globally, influenced by varied climates and natural endowments, necessitates specialization, prompting trade between nations. Globalization has reshaped production dynamics through offshoring and outsourcing, helping businesses reduce costs while impacting labor markets and environmental conditions. Understanding these relationships is crucial for navigating modern economic challenges.

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The Impact of Resource Scarcity on Human Activity and Global Trade Dynamics

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  1. How do resources affect human activity?

  2. Scarcity As humans, we have unlimited wants. A society can only produce a limited number of things with the resources available. Therefore, scarcity says that we cannot be self sufficient. We have to rely on others for resources our society doesn’t have.

  3. Trade • The exchange of goods and services • What causes trade? • Uneven distribution of resources • Specialization

  4. Uneven Distribution of Resources • Various parts of the world have different climates, landforms, soils, and minerals • Petroleum • World Oil Production • Top 20 Oil Producers = 95% • Rest of the World (237 Countries) = 5% • Human Resources • China • Larger numbers of people willing to work for less money • More Developed Countries • Strong educational backgrounds • Design new high-tech goods • Act as entrepreneurs

  5. Specialization • Specialization occurs when a region tends to make a certain type of goods based on the resources it has available. • How does specialization encourage trade? • Because of specialization, not every country produces what it needs and wants. • The exchange of goods through imports and exports is called trade • Japan

  6. Globalization • Offshoring • Companies moving their production facilities to places with lower cost of production and labor • Outsourcing • Allows companies to focus on business decisions, while it allows management companies to handle things such as customer service • Globalization • The process of goods and services being exchanged on a global scale

  7. Globalization • Benefits • People enjoy goods and services from around the world • Greater connectivity (easier communication) • Advances in technology, medicine, etc. spread quickly • Eco. development has sped up

  8. Globalization • Costs • Manufacturing has shifted away from areas with high labor costs • Workers in more developed countries have lost their jobs • Workers in less developed countries are being exploited (long hours in harsh conditions) • Increased pollution and climate change • Higher risk of pandemics • Loss of individual economy and local uniqueness • Spread of American “pop” culture – backlash • Trade imbalances • China vs. America

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