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Social Studies skills: Difference between revisions

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*** If Saudi Arabia relies on oil, what is the cost of that reliance?
*** If Saudi Arabia relies on oil, what is the cost of that reliance?


=== Herbert Stein's Law
=== Herbert Stein's Law ===
* "If something cannot go on forever, it will stop"
* "If something cannot go on forever, it will stop"
* in economics and history, this concept is important for students to appreciate  
* in economics and history, this concept is important for students to appreciate  
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=== Other useful Economics terms and concepts ===
=== Other useful Economics terms and concepts ===
* Tragedy of the Commons
* Tragedy of the Commons
* Rent-seeking
* Externalities
* Externalities
* Scarcity v. Surplus
* Scarcity v. Surplus
* [[Tragedy of the Commons]]
* [[Tragedy of the Commons|Tragedy of the Commons]]
* Regression to the Mean (return to the mean)
* Regression to the Mean (return to the mean)
* Diminishing Returns
* Diminishing Returns