Have an account?
Skip to Content
Build your own quiz
10 questions
Show Answers
See Preview
- 1. Multiple Choice
.............. is the relationship between limited resources and unlimited wants.
Scarcity
Efficiency
Efficient
Economics
- 2. Multiple Choice
Scarcity means:
Too much of something you wanted
The exact amount of something you wanted
Not enough of something you wanted
- 3. Multiple Choice
What is an economic want?
Things people need in order to survive.
Things people would like to have.
Things people don't want anymore.
- 4. Multiple Choice
If 5 people want an ice-cream, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
- 5. Multiple Choice
If 6 people want a pencil, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
- 6. Multiple Choice
If 3 people want a candy bar, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
- 7. Multiple Choice
If 8 people want a stuffed animal, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
- 8. Multiple Choice
Who is affected by the condition of scarcity?
The rich
Large economies
All societies
Producers (ie: businesses)
- 9. Multiple Choice
Which is NOT a scarce resource?
Labor
Trees
Time
Candy
- 10. Multiple Choice
What are all societies forced to do because of scarcity?
Make production decisions
Conserve resources
Limit resource use
Charge large amount of money for available resources
- Answer choicesTagsAnswer choicesTags