
1.1 Scarcity
Authored by Yelena Melnichenko
Social Studies
12th Grade
Used 6+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the study of how people satisfy their needs and wants?
Needs
Wants
Economics
Scarcity
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the things that a person has to have to survive?
Wants
Needs
Real Costs
Trade Off
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term describes those things that you would like, but do not need to survive?
Needs
Scarcity
Wants
Opportunity Costs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is defined as a limited amount of resources to meet unlimited wants and needs?
Real Costs
Scarcity
Trade Off
Economics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What term refers to all of the resources used to produce a good or service?
Trade Off
Opportunity Costs
Real Costs
Needs
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is it called when you choose between two possible uses for a resource, giving up one alternative for another?
Trade Off
Scarcity
Wants
Real Costs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the value of time, money, goods, and services given up in an economic choice?
Needs
Real Costs
Opportunity Costs
Economics
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