Economics

Which is an example of a natural resource?

• truck

• Farm land

• Doctor

• Manager of a store

Which is an example of a human resource?

• construction worker

• car

• tree

• microwave

Which is an example of a capital resource?

• animals

• factory

• trees

• dancer

What is an example of an entrepreneurship resource?

• forest

• business owner

• cashier

• cows

We learned from Econ and Me that scarcity means not having enough of something. Which of the following is an example of scarcity?

• Starbucks has plenty of coffee and consumers.

• Josh has no space in his room for a new desk because his bed is too big.

What is one reason to save your money?

• To buy something that you need now.

• To buy something later.

Which is a list of capital resources?

• Machines, factories, and tools

• Land, water, and trees

William has $20 and he must choose to buy a new book or a game. He decides to purchase the book because he has a book report due in two weeks. What is his opportunity cost?

• the book

• the game

What is the definition of opportunity cost?

• Something you give up to get something else that you want

• When you get everything you want

• Things you find in nature

• A funny video we watched in class

Ashley wants to buy a scooter that costs $75. She already has saved $40. Why is Ashley saving her money?

• To buy a candy bar

• To buy a scooter

• Because she already has a scooter

• To buy school supplies