Unit 6 Economics End of Unit Consolidation Flashcard
Flashcard
•
Social Studies
•
6th - 7th Grade
•
Hard
Arthur Firipis
FREE Resource
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39 questions
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1.
FLASHCARD QUESTION
Front
Economics
Back
Study of managing scarce resources
2.
FLASHCARD QUESTION
Front
Gap between limited resources and unlimited wants.
Back
Scarcity
3.
FLASHCARD QUESTION
Front
Scarcity occurs when unlimited needs/wants exceed limited resources.
Back
Scarcity: Unlimited needs/wants > Limited resources
4.
FLASHCARD QUESTION
Front
Causes of scarcity
Back
Limited resources & unlimited wants
5.
FLASHCARD QUESTION
Front
Essential items for survival.
Back
needs
6.
FLASHCARD QUESTION
Front
Items a person can live without.
Back
wants
7.
FLASHCARD QUESTION
Front
Want or Need?
Back
Need
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