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Microeconomics Scarcity

Authored by Cupcake 31

Social Studies

4th - 6th Grade

Used 10+ times

Microeconomics Scarcity
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The main cause of economic problem is

Unlimited resources

Scarcity of resources

Scarcity of wants

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Resources are

Limited

Unlimited

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wants are __

Limited

Unlimited

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Basic Economic Problem: Mismatch of unlimited wants and needs and unlimited economic resources.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What do economists mean by the term "scarcity"?

Having too few or too little of resources

Having too many resources

Having just enough resources

Having the correct amount of resources

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

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

People have limited wants there is an unlimited amount of resources.

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

People have no wants so resources don't matter

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a want?

Designer clothes

Clothes

Water

Food

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