During the early 2000s, high schools moved more toward a "college prep" curriculum with a focus on preparing more students to go to college. As a result, it became more difficult for students to be accepted to college, and not everyone gets in. This is caused by what type of scarcity?
This type of scarcity can be referred to as educational scarcity or scarcity of college admission spots.
The type of scarcity in this situation is known as artificial scarcity. Artificial scarcity refers to a situation where there is a limited availability of a resource or opportunity created by human actions, rather than a natural limitation. In this case, high schools adopting a college prep curriculum and focusing more on preparing students for college created a scarcity of acceptance slots at colleges, making it more difficult for students to be accepted.
The type of scarcity that caused it to become more difficult for students to be accepted to college during the early 2000s can be classified as "scarcity of opportunity."
To understand this concept, let's break it down further. Scarcity is a fundamental economic concept that refers to the limited availability of resources or opportunities relative to the unlimited human wants and needs. In this case, the scarcity pertains to the limited opportunities for students to be accepted into college.
Now, let's explore how the scarcity of opportunity arises in this context. The shift towards a "college prep" curriculum in high schools during the early 2000s aimed to prepare more students for higher education. This shift acknowledged the growing demand for college-educated individuals in the job market and the benefits associated with obtaining a college degree.
However, as more students pursued college, the number of available spots in colleges and universities did not increase at the same rate. This disparity between the increased demand for college education and the limited capacity of higher education institutions resulted in a scarcity of opportunity. In other words, there were more students seeking admission to college than the available slots could accommodate.
Consequently, it became more challenging for individual students to be accepted into their preferred colleges. The competition for admission intensified, as colleges were then able to be more selective in their acceptance process. This scarcity of opportunity is what led to the increased difficulty for students to be accepted to college during that time.
In summary, the scarcity that caused it to become more difficult for students to be accepted to college during the early 2000s is the scarcity of opportunity, arising from a growing demand for college education that outpaced the capacity of higher education institutions to accommodate all students.