Scarcity

What is the central idea in all of economics?

• Sustainability

• Equality

• Scarcity

• Abundance

What does scarcity mean in the field of economics?

• Equal distribution of resources

• Limited resources

• Abundance of resources

• Sustainable resources

What does scarcity mean in everyday life?

• Equal access to resources

• Sustainable consumption of resources

• Abundance of goods and services

• Limited availability of resources

What are scarce resources?

• Resources with unlimited availability

• Resources with limited availability

• Resources with sustainable consumption

• Resources with equal distribution

What is the opposite of scarce resources?

• Limited resources

• Sustainable resources

• Equal resources

• Abundant resources

Is caviar a scarce resource?

• No, it is equal

• Yes, it is sustainable

• No, it is abundant

• Yes, it is scarce

Is labor a scarce resource?

• No, it is abundant

• No, it is equal

• Yes, it is sustainable

• Yes, it is scarce

Is the view from the house next to the alpine lake a scarce resource?

• No, it is equal

• Yes, it is sustainable

• No, it is abundant

• Yes, it is scarce

Is the water in the alpine lake a scarce resource?

• Yes, it is sustainable

• No, it is equal

• No, it is abundant

• Yes, it is scarce

Is oxygen on our planet considered a scarce resource?

• No, it is abundant

• Yes, it is scarce

• Yes, it is sustainable

• No, it is equal