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Scarcity and Opportunity Cost

Authored by Alyssa Yff

Social Studies

9th Grade

17 Questions

Used 6+ times

Scarcity and Opportunity Cost
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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

These are the things we desire to have.

Wants

Goals

Opportunity Costs

Needs

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When "wants are greater than the resources available to satisfy them," it is called...

Scarcity

Needs

Opportunity Cost

Shortage

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Because of scarcity, people are forced to make _________ about how to use resources.

Choices

Opportunities

Houses

Desires

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When you make a choice, you often have to give up other options...those things are called the...

Opportunity Cost

Missed Opportunities

Misused Resources

Scarce Options

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is opportunity cost?

your choice
what you give up to make a choice

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is scarcity?

Having too many resources and not enough wants

Having unlimited wants and not enough resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following is an opportunity cost?

You stay out late and your parents ground you.

You run a red light and you get a ticket.

You choose to give up watching movies with your friends to study for a math test.

In a softball game, you miss the ball and strike out.

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