The Great Seattle Fire was a fire that destroyed the entire central business district of Seattle, Washington, on June 6, 1889. The conflagration lasted for less than a day, burning through the afternoon and into the night, during the same summer as the Great Spokane Fire and the Great Ellensburg Fire. Seattle quickly rebuilt using brick buildings that sat 20 feet (6.1 m) above the original street level. Its population swelled during reconstruction, becoming the largest city in the newly admitted state of Washington.
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👉 Great Seattle Fire in the context of Scarce
In economics, scarcity refers to the basic fact of life that there exists only a finite amount of human and nonhuman resources which the best technical knowledge is capable of using to produce only limited maximum amounts of each economic good. If the conditions of scarcity did not exist and an "infinite amount of every good could be produced or human wants fully satisfied ... there would be no economic goods, i.e. goods that are relatively scarce..." Scarcity is the limited availability of a commodity, which may be in demand in the market or by the commons. Scarcity also includes an individual's lack of resources to buy commodities. The opposite of scarcity is abundance. Scarcity plays a key role in economic theory, and it is essential for a "proper definition of economics itself".
British economist Lionel Robbins is famous for his definition of economics which uses scarcity: "Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses." Economic theory views absolute and relative scarcity as distinct concepts and is "quick in emphasizing that it is relative scarcity that defines economics." Current economic theory is derived in large part from the concept of relative scarcity which "states that goods are scarce because there are not enough resources to produce all the goods that people want to consume".
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Great Seattle Fire in the context of Great Ellensburg Fire
The Great Ellensburg Fire, also known as the Independence Day Fire, was a fire that destroyed homes and the business district of Ellensburg in 1889, during the same summer that major fires damaged Spokane, Vancouver, and Seattle, all major cities in the Washington Territory.