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The video talks about how scarcity brings out the competitive nature of people, and the downside of it, which is leading to selfish behaviors. The video explains how people in every walk of life experience scarcity one way or the order.
I chose this video because it shows how scarcity can affect the consumer behavior. It shows an area of scarcity that is at times ignored. Whether the poor, middleclass, or upperclassman, they all experience feelings scarcity, though maybe not on the same level. The feeling or idea that something is scarce, or might become scarce, causes people to act in ways that are self beneficial. That feeling can also be twisted to promote decent behaviors, though around that ‘what's-in-it-for-me’ attitude.

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How reminders of resource scarcity shape consumer behavior

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The video explains that those who lack resources experience a reduction in IQ than those with a lot more. Attentiveness is differentiated between the two groups, with those who lack more being less attentive to certain things which in turn affects their decision-making ability.
I chose this video because it exposed me to a lot of new information as I had no idea of the effect scarcity had on the cognitive function. The video explains that the poor are prone to making weaker decisions and gave a good example of having done a survey where people were randomly designated rich and poor, and a menu was given where they had to make a meal choice. Those who were poor didn’t notice the discount written at the bottom of the menu while those who were rich did. This shows that scarcity induces neglect of savings opportunities which in turn gives rise to even more scarcity. It is a vicious cycle indeed. The video went on to mention that this impairment is equal to a drop of 10-30 points in IQ, which also is equivalent to a loss of one night of sleep or aging 50 years between ages 40-60.

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Attention and decision-making under scarcity

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The video mentions that 40% of Canadian SME’s, which I have found to mean small and medium sized enterprises, are finding it difficult to find employees. It mentions that the reason for this is the aging population in Canada, and states that it is bound to increase in the next decade. The video mentions that this scenario is not getting better anytime soon, and that the only way for businesses to triumph in the face of this issue is to change their hiring strategies.
I chose this video because it not only addresses the reality of labor deficit in Canada, but the reason for it.  But how do firms deal with the labor scarcity? The video highlights that there should be a focus in hiring young people, those who are at the stage to retire, and also immigrants. I believe that the rationale to this is that young people are essential in carrying on the future of a company and making it long lasting. Also, the age to retire is far off from them. Immigrants make a diverse workspace, and they are also a huge part of Canada's economy. These group of people should be targeted in order to fight the shortage of labor in the country.

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This video explains that those who lack more put much of their mental capacity into handling scarcity that they are not able to focus on anything else.  It talks about how those who have more aren’t moved much by expenditure and those who have less are very attentive of prices, which is all as a result of the level of scarcity one experiences.
I chose this video because I found it very interesting, it really went deep into trade-offs, which is an outcome of scarcity. The video goes deep into attention and its association with scarcity and it has given me a better understanding of the framework of scarcity.  What I found unique about this video is that it mentions that the mind is usually devoted to thoughts about the source of scarcity than anything else. Scarcity puts a drain on the cognitive function that leaves you with less mental space to focus on other things, it limits attention.

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Scarcity: Why having too little means so much

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This image reveals the situation of food banks across Canada, where they are experiencing a spike in demands but a drop in donations. It also represents the current state of Canada in which the global pandemic has forced us into, where there is a shortage in food supply amidst the growing demands of those who are already food insecure.
I chose this image because of the link between scarcity and demand. And I thought that it would be good to show the effect demand has on scarcity. This shortage in food supply around the country has also caused the prices to spike, which is also as a result of the increase in demand. This clearly shows the association between scarcity, demand, and price.

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This image represents the shortage of physician services in Canada, as supported by research which says that Canada ranks 29th out of 33 high-income countries for the number of practicing physicians respective to its population.
I chose this image because I felt that it would be good to show that scarcity can also show itself in the shortage of professionals. This scarcity in medical professionals can be seen in the long wait times for medical consultations and the difficulty that Canadians face in finding family doctors. I am sure that each of us has experienced this in one way or the other, now you are aware of the root cause, a lack of these physicians in the overall nation.

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This website explains the shortage of drugs in Canada. It mentions that between 9,000 drugs that were marketed between 2017 and 2018 only 25 percent were reported in shortage. Drugs such as EpiPen’s and other treatments for Parkinson’s disease and depression were also included in this shortage. It was seen that the shortage of drugs were more likely due to high demand, a shortage of raw materials, that they were produced by a generic company and there were no competitions, and that some drug makers might not find them profitable.
I chose this website because I really enjoyed its talk on the shortage of medicine. I found it unique because it brings this to our attention as I am sure that a lot of us had no idea of this deficit. The lack of competition of other drug suppliers reduces the prospects of other options and from our classes you will know that when a supplier feels that a product isn't bringing enough profit then supply will reduce until things pick up. This shortage poses a serious problem as many depend on certain drugs to maintain livelihood. The websites talks of a woman who depends on a certain drug to even leave her house, this is how essential the drug market is.

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TORONTO -- A new study has found that of the over 9,000 different drugs marketed in Canada between 2017 and 2018, nearly 25 per cent were reported in shortage -- including EpiPens and treatments for Parkinson's disease, epilepsy and depression.

In an unusual trend, it was more likely for a drug to be in shortage if it was produced by a generic company and there was no other competition.

"A number of drugs were in shortages and one of the main findings was that it was more likely for a drug to be in shortage if it was produced by a generic drug company and it was the only drug company supplying the market," said Aslam Anis, a professor at the School of Population and Public Health at the University of British Columbia.

The study, published in CMAJ Open, was conducted by a team at the Vancouver-based Centre for Health Evaluation and Outcome Sciences.

The team analyzed prescription drug data from the Canadian Drug shortage database, where manufacturers have been required to report drug shortages since 2017.

They found that 23.4 per cent were reported in shortage during the study period -- between March 14, 2017 and Sept. 12, 2018. The average length of a shortage was five months.

"It is troubling to me because drug shortages can be very catastrophic for patients who are in need of that specific drug and sometimes doctors have to then switch them to different drugs," said Anis.

The researchers also grouped together drugs with the same ingredients, dosage, type, and strength -- ones that could be interchangeable -- and found that 13 per cent were listed in short supply, giving pharmacists and patients few alternative options.

"I was very alarmed when I saw entire markets, all the brand names of a drug were not available and this was causing patients lots of hardship," said Anis.

And these shortages usually come without warning -- causing stress for front-line pharmacists like Kyro Maseh in east-end Toronto.

"Suddenly you just find medications are on backorder and then we're left scrambling trying to contact physicians for alternatives," he said.

"We have to, at times, make patients wait. Sometimes these medications have very profound effects in their life and we just have to make them wait."

Maseh said the issue is "not something that we can put under the rug."

Eighty-six-year-old Lois Forrest has severe asthma, and relies on three medications to help her breathe with ease.

"This one I take every few hours when I'm in trouble," she said, showing one of the prescription containers from her porch in Toronto. "I really wouldn't get out of my room if I didn't have them."

There were some months during the COVID-19 pandemic when she had a one-month supply -- instead of the usual three-month order -- because of shortages. While her pharmacist reassured her, the idea that so many medications have random supply problems is alarming.

These are drugs doctors have told her she must take; her well-being depends on their availability.

"That scares me because I don't know what I would do without it. I would end up at the hospital," said Forrest.

Researchers say some shortages are caused by a lack of raw materials, a sudden increase in demand. The study suggests that, in some cases, drug makers may not find them profitable.

But all agree on the urgent need for a reliable supply.

"We need to have a strategy, so that our industry is vibrant and we're able to produce the drugs we need," said Anis.

How to achieve that is open for discussion. Some are touting better deals and profit margins for drug makers. Others suggest security is found in producing essential medications in Canada, because most products are produced in part in China, India and the U.S.

Whatever the approach, Maseh hopes there is a solution soon.

"What will happen in the future? My opinion is you're going to have very dire consequences, I think, and the only fear I have is people can end up dead if they don't get the medications that they need," he said.

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Nearly a quarter of drugs marketed in Canada reported shortages: study

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TORONTO -- A new study has found that of the over 9,000 different drugs marketed in Canada between 2017 and 2018, nearly 25 per cent were reported in shortage -- including EpiPens and treatments for Parkinson's disease, epilepsy and depression.

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This website explains the strain on water ongoing in Canada. What I learned from it was that Canada’s water price is among the lowest amongst countries and that causes overuse, which is a factor to its dwindling supply. The website mentions that the majority of Canada’s population live in the south, this is very interesting statistics that is good to know.
Also, it states that 60% of its renewable water drains to the north so access is limited. Provinces like Alberta, Manitoba, and Saskatchewan are more arid than other parts of the country. Arid in this case means barren to the growth of vegetation.
I chose this website because it brings to our awareness that some regions are finding water scarce. And I believe that the barren nature of their land has led to an increased focus on agricultural activities. These regions would have to put in a lot of effort to ensure the availability of food, foregoing things like water as this is used up to treat the land and grow vegetation. The website notes that an Increase of agricultural and industrial activities, and also an increase in population  as the expansion of people will cause an imbalance in available resources, has led to a spike in water stress in parts of these provinces, and more is expected in the coming decades.

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This website talks about the shortage of Engineers in Canada. What really got my attention while reading this was the statistics. It is mentioned that in Canada there are a little over 250,000 engineers employed, by 2020 95,000 of them will go into retirement. They say that engineering programs graduate 12,000 engineers each year, and if you do the math that is not enough to replace those who are retiring. Why is this so? In the article, it mentions that there aren’t enough young people who are interested in STEM fields.
I chose this website because it supports my talk on the scarcity of professionals. And I thought it good to show that scarcity can be seen in other areas. What also surprised me was the fact that 62% of employers mention that new engineering students don’t have the skills they need, and that is a very large percentage of employers. How do we fill this gap? By sparking the interest of STEM fields in the younger generation, also transforming the curriculum so that students are being taught skills that are of high demand.

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where are the biggest skills gaps in canadian engineering?

According to the 2016 Global Engineering Report, conducted by Staffing Industry Analysts, employers are reporting "significant skills shortages in the engineering sectors." The shortages aren't limited to a single engineering discipline. Here are some of the top fields where skilled engineering talent is desperately needed.

civil engineering

Civil engineering covers a broad range of careers but generally tends to be focused on construction. Civil engineers are responsible for designing and overseeing the design and construction of all kinds of residential, commercial and government buildings, as well as infrastructure such as transportation, roads, bridges, water systems, power systems, tunnels, docks, airports, and hospitals.

With Canadian cities undergoing rapid growth in the post-recession economy, the federal government has pledged over $120 billion in investments to build and improve Canadian infrastructure over the next 5 years. Skilled civil engineers who are capable of designing and overseeing these burgeoning infrastructure projects are in intense demand. In fact, civil engineers currently top the list of most in-demand engineering professions.

electrical engineering

Electrical engineers are concerned with the development, design, and manufacturing of electronics and any systems that use or transfer electricity. This means just about anything that can 'power on' involves an electrical engineer. Electrical engineers are instrumental in the design and improvements to consumer goods like computers, phones, smart devices, and appliances.

Electrical engineers can also be involved in designing power systems and grids, medical devices that require electricity, robotic or automated systems, radar, and fibre optics, among many other technologies. As you might imagine, in our increasingly tech-centric world, electrical engineers are in intense demand! The demand for electrical engineers is second only to civil engineers.

mechanical engineering

Mechanical engineers are responsible for designing, building, testing and improving machines of all kinds. Because the field is so broad, engineers often choose to specialize in one area of mechanical engineering such as building engines, hydraulics, pneumatics, pumps, turbines, or heating and cooling systems, among others.

Currently, the manufacturing sector is the largest employer for mechanical engineers. In a manufacturing plant, mechanical engineers may be responsible for designing and building products such as vehicles, generators, or air-conditioning systems, however, they're also the minds behind the machines that are used manufacturing a variety of consumer goods and products we use on a daily basis. It's up to mechanical engineers to devise efficient, cost-saving machines that are capable of manufacturing products.

automotive engineering

Automotive engineers fall under the scope of mechanical engineering because automotive engineers primarily deal with the building of machines and engines. The automotive sector is being driven by the price oil, unsurprising for an industry creating machines dependent on fuel.

A recent drop in crude oil prices boosted employment prospects in the industry. Further, low-interest rates have encouraged more people to buy vehicles. The uptick in automotive sales has led to an increased need for engineers who specialize in vehicle design and innovation.

biomedical engineering

Biomedical engineers are responsible for designing machines and devices such as hearing aids, implanted devices (such as pacemakers), health monitoring systems, diagnostic tools, surgical devices, artificial limbs and organs, and medical treatments, among others. Just about any technology that is used to diagnose or treat medical conditions was created by a biomedical engineer.

As Canada's aging baby boomer population heads into retirement, their health care needs are expected to swell. Healthcare is already a $228 billion industry in Canada, with an average cost of over $6200 per person! As you can imagine, the demand for new and more efficient medical technology shows no signs of slowing down, and continued innovation in the field will be vital to providing a high quality of life for Canada's growing senior population in the coming years. Engineers looking for long-term roles will find biomedical engineering offers great opportunities to establish a career where there's plenty of room to grow and settle into a rewarding career where you're contributing to the betterment of society.

how are engineering shortages affecting canada's economy?

Engineering jobs provide a foundation for other jobs. According to Engineering UK's 2016 report 'The State of Engineering,' for every new engineering role created, two additional jobs are created on a broader scale. Simply put, strong job opportunities for engineers helps build infrastructure and drive innovation in satellite industries. When engineers are successful, we all are.

The reverse is also true. When engineering jobs cannot be filled, projects may be delayed or understaffed, which can impact the profitability of companies and affect their customer relationships. When organizations have trouble recruiting in engineering fields, there's a trickle-down effect. Therefore, efficiently finding engineers becomes even more important, to ensure there's no ripple effect in key job markets that rely on the expertise of engineers, such as manufacturing, resource extraction, construction, public service, and others.

The biggest issue facing Canadian engineering is the lack of interest in the field among young people. It's in our best interest to ensure that we're encouraging young Canadians to get into engineering and ensure they understand that there are opportunities for them to build a thriving career in the field.

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The largest engineering skills gaps in Canada | Randstad Canada

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According to the 2016 Global Engineering Report, conducted by Staffing Industry Analysts, employers are reporting "significant skills shortages in the engineering sectors." The shortages aren't limited to a single engineering discipline. Here are some of the top fields where skilled engineering talent is desperately needed.

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The strain on resources have been a problem for physicians all around the word, including Canada, and as mentioned in the article it is expected to continue even when COVID-19 subsides.
I chose this website because it talks of something heavy that we are all currently experiencing. I found this website unique because it talks about the scarcity of healthcare resources during the pandemic and dives into what Canadians are and can do to alleviate or work around this.  The website mentions that to manage this constraint many provincial medical officers of health have ordered the reduction of non-essential medical services, there is also the redirection of patients to public health or hospitals where they meet the criteria of potential COVID-19 infection and relying on virtual care where possible to keep in contact with patients suspected of COVID-19. These measures aids to save time and help manage resources in the health care facility. By doing all these they are allocating more of their resources for matters of top priority, like the high influx of COVID-19 patients. This is a good example of the trade-off that follows scarcity.

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COVID-19: Reasonable care (15 min)
Published: June 2020
The information in this article was correct at the time of publishing
20-08-E
Issues

Resource constraints have long been a reality for Canadian physicians. In the context of COVID-19, these resource shortages are likely to be more pronounced.

There have been acute resource shortages in some regions during the COVID-19 pandemic. The scarcity of resources may continue once COVID-19 subsides.

There is no perfect solution to address resource dilemmas. However, steps can be taken to manage shortages in order to reduce patient harm and minimize medical-legal risk.

The bottom line

Even when faced with resource constraints, do your best for patients and act reasonably under the circumstances. Courts and regulatory authorities (Colleges) may take into consideration any resource constraints when adjudicating civil actions and complaints related to care provided. Contact the CMPA for context-specific medical-legal advice regarding the delivery of care to patients in these challenging circumstances.

Consider alternative ways to deliver care and assess which non-essential medical services can be deferred.

Remember, all physicians have a role to play in health advocacy as important voices in an environment of limited resources.

Need to know

Reduce non-essential or elective care

To minimize the spread of COVID-19, many provincial medical officers of health ordered that all non-essential and elective services be reduced to minimal levels, subject to certain exceptions. Most Colleges supported the decision to scale back non-essential services if made in a fair and principled manner. These measures were designed to assist with the allocation of resources to the highest-need patients and preserved the use of personal protective equipment (PPE).

Use and document the clinical judgment you used to determine what constitutes a non-essential medical service and which services can be resumed pursuant to updated guidance from your institution, health authority, provincial medical officer of health, and College.

Once non-essential and elective services fully resume, this is likely to create even more pressure on an already strained system. It will be important to continue to apply protocols and appropriately manage scarce resources and wait lists during this period.

Find alternative ways to deliver care

Adapt and develop creative solutions to provide care where resources are limited, including where there is a shortage of PPE. Among other things, consider:

implementing COVID-19 screening measures before seeing patients in person (e.g. screening patients by phone, posting signage requesting patients to call ahead, etc.)

re-directing patients to public health or hospitals, or both, as appropriate, where they meet the criteria for potential COVID-19 infection

relying on virtual care where possible to keep in contact with patients suspected of having COVID-19 and who are being monitored, as well as other patients with chronic diseases, acute illnesses and those who may not require an examination in person

supporting patients as much as possible to access care if you are no longer legitimately able to practice safely

Duty to act reasonably, not perfectly

Courts and Colleges are likely to consider the circumstances when assessing whether a physician met the standard of care, including the resources available at the time. Physician care is judged not on a standard of perfection, but rather on the standard of care that might reasonably be applied by a colleague in similar circumstances.

Regularly communicate with colleagues regarding best practices and ways to manage limited resources.

To the extent possible, place the best interests of patients first while using resources judiciously. In the event triage protocols are implemented to allocate resources, the best interests of the public must be weighed against the interests of individual patients.

Follow any applicable emergency directives and triage protocols established by government and public health authorities regarding the use of resources. This can help minimize medical-legal risk by demonstrating that you met the standard of care in the exceptional circumstances of COVID-19.

Document any steps taken to attempt to resolve resource issues.

Engage in appropriate health advocacy

You may feel compelled to advocate on behalf of patients and yourself. Any advocacy should be done in a professional manner [PDF] and one that maintains public trust.

If you practise within an institution, be especially mindful of any applicable bylaws, protocols, and policies regarding appropriate advocacy by medical staff, allocation of resources, and PPE use.

Looking ahead

Suspending elective and non-essential services during COVID-19 will inevitably result in extensive wait times once these services resume. Resources that are depleted during COVID-19 will likely continue to be in short supply when non-essential medical care recommences.

The lessons learned through the COVID-19 pandemic may also be useful in allocating resources when non-essential medical services resume.

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Scarce resources: Caring for patients during COVID-19

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COVID-19: Reasonable care (15 min) Published: June 2020The information in this article was correct at the time of publishing20-08-E Resource constraints have long been a reality for Canadian physicians. In the context of COVID-19, these resource shortages are likely to be more pronounced. There have been acute resource shortages in some regions during the COVID-19 pandemic.

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Hello, and welcome to my padlet on scarcity. I hope you will find it most thrilling, as you will learn about  the many forms scarcity can take. It is not just a lack of food and water, but so much more. You will learn about the overall framework of scarcity, how exactly it affects human behavior and the weight of it on society. You will learn of the association between scarcity, demand, and supply.

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What about scarcity surprised me the most?

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What about scarcity surprised me the most?

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What really interested me when working on this topic was how scarcity has so much depth. Scarcity can affect so much, and it isn’t just an absence of food and water, which is what usually comes to mind when one hears of scarcity. I learned that scarcity can reduce the IQ between 10-30 points. I learned how it has a hand in affecting each of our daily lives, from our work to our education, that as individuals we can be so caught up in thoughts of the source of our scarcity that we remain redundant. I learned that in our effort to solve scarcity we can end up increasing it. I learned that every individual experiences scarcity, and this is all based on our own perception of what is scarce in our lives. Scarcity escapes no one, sadly.

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Well, as a student, I found it interesting, and worrisome that our IQ's diminish a month to our final papers. This I got from video number 2. It got me thinking, that since the reduction in IQ is as a result of scarcity, what do I as a student feel that is scarce a month before my final paper? Time, I feel that time is scarce.

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The most important Knowledge I would pass on to a friend or family?

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The most important Knowledge I would pass on to a friend or family?

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The most important knowledge I would ever pass on, is the effect of scarcity on our behaviors. I would inform them that our selfish attitude is at times as a result of that feeling of scarcity. I would inform them of how the feeling of scarcity plays a huge role in our decision making process, so that they would be more conscious of this when needing to make decisions.