Scarcity
Quiz
•
Social Studies
•
7th - 12th Grade
•
Practice Problem
•
Medium
William King
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8 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is scarcity?
How scary something is
How long it takes to make something
How limited a resource is
How many people can buy a resource
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Why is scarcity important?
It helps us create more resources
It determines a resources value
It tells us how many people own a resource
It lets people buy stocks
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If a resource becomes MORE SCARCE, then the value of that resource goes ___.
up
down
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
If a resource becomes LESS SCARCE, then the value of that resource goes ___.
up
down
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Scarcity exists because people have unlimited wants/needs and limited ____.
decisions
economics
choices
resources
6.
MULTIPLE SELECT QUESTION
20 sec • 1 pt
What are the TWO fundamental resources for individuals
money
gas
time
energy
water
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Since people have scarce time and money, we have to make economic _____ on how we use these resources.
choices
prices
values
scarcity
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