Economics

Front

Something we desire but that is not necessary for survival

Back

Want

Front

Something essential for survival

Back

Need

Front

Economics is...

Back

studying goods, services, and how people can get them.

Front

"Scarcity"

Back

Having too few or too little of resources

Front

Which choice best describes the economic problem of scarcity in the world?

Back

People have unlimited wants but there is a limited amount of resources

Front

Who is affected by the condition of scarcity?

Back

All societies

Front

Why do all societies have to make decisions about how resources will be used?

Back

There are not enough resources for those who want them

Front

Economics is the study of how people seek to satisfy their needs and wants by making choices.

Back

True

Front

Scarcity forces us to make economic decisions.

Back

True