Scarce and Abundant

What is the definition of scarcity?

• Limited availability of resources in relation to unlimited wants and needs.

• Equal availability of resources in relation to unlimited wants and needs.

• Unlimited availability of resources in relation to limited wants and needs.

• Abundance of resources in relation to unlimited wants and needs.

Give an example of a scarce resource.

• gold

• air

• fresh water

• sunlight

What is the opposite of scarcity?

• shortage

• abundance

• lack

• rarity

Name a resource that is abundant.

• diamonds

• $100 bills

• gold

• water

Why is water considered an abundant resource?

• Water is considered an abundant resource because it is a renewable source that can be replenished naturally over time.

• Water is considered an abundant resource because it is easily accessible and available to everyone.

• Water is considered an abundant resource because it is found in large quantities in underground reservoirs.

• There is alot of it

Give an example of a resource that can be both scarce and abundant depending on the location and time.

• Water

• Oil

• Food

• Air