Scarcity

TRUE or FALSE: We can have everything that we want because we have unlimited resources.

• TRUE

• FALSE

Which among the choices below creates an imbalance between resources and wants and needs?

• Making responsible decisions

• Doing things that you want to do

• Consulting other people before doing something

• Considering if something is really a need or just a want

What could be a reason why we have "unlimited" wants and needs?

• We long to live comfortably

• We want our lives to be miserable

• We do not have the urge to own anything

• We want to create problems for ourselves

What does scarcity mean to humans?

• that we have to act irrationally

• that we need to use up all our resources for our comfort

• that we have to use our resources efficiently so that needs and wants are satisfied

• that we have to not use our resources at all because we will run out them if we keep using them

TRUE or FALSE: Mints are places where governments print worksheets for their employees.

• TRUE

• FALSE

What happens when a government prints too much money?

• People will be happy

• The money have more value

• People will buy more things

• The money will lose its value

What is hyperinflation?

• when money regains its value

• when there is too much air in a balloon

• when value of goods stay at stable prices

• when the value of goods spiral out of control

Why is time considered to be scarce?

• Humans live forever

• Humans do not live forever

• Humans can live forever because of cryonics

• Humans do not live forever if they choose not to

What is the accepted rule with rare resources on Earth?

• the rarer they are, the rarer they are of course

• the rarer they are, the lesser value they acquire

• the rarer they are, the more valuable they become

• the rarer they are, the more rare they can become

Among the choices below, what can be solutions for the food scarcity around the world? (select all the possible answers)

• responsible use of resources

• people making the right decisions

• equitable distribution of resources

• efficient management of resources