Copy of Copy of SS U2 L2

People use only human resources to produce goods and services

• True
• False

Scarcity results because resources are unlimited and human wants are limited

• True
• False

Not enough of something so people have to make choices =

• limited resources
• scarcity
• unlimited wants

There are only certain amounts of resources =

• limited resources
• scarcity
• unlimited wants

There is no end to the number of things people want and need =

• opportunity cost
• scarcity
• unlimited wants

Student A chose not to do their work in class, losing recess is their

• opportunity cost
• scarcity
• unlimited wants

Something used to get people to buy or produce a certain good or service =

• opportunity cost
• scarcity
• unlimited wants
• incentive

Nike advertised items at 40% off as a __________ to get people to come into their store.

• incentive
• scarcity
• unlimited wants
• Option 4

The cafeteria running out of choice 1 for lunch and only having PB&J or Salad is an example of

• incentive
• scarcity
• unlimited wants
• opportunity cost