What is scarcity in economic terms?
Economics for Kids: Saving and Spending

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Business
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4th - 5th Grade
•
Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ability to buy everything you want
A surplus of goods and services
Unlimited wants with limited resources
Having more resources than needed
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why do people need to make choices about their spending?
To ensure they buy everything they want
Due to limited resources and unlimited wants
To avoid buying unnecessary items
Because they have unlimited money
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What should you consider when deciding between spending and saving?
The benefits and costs of each choice
All of the above
The potential to buy a larger item later
The immediate satisfaction of spending
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If you have $5, what is a potential benefit of saving it?
You will never spend it
You can afford a more expensive item later
You can buy a small item immediately
You can lend it to a friend
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a possible downside of spending money right away?
You will always make the wrong choice
You will never be able to save
You will have too much money left
You might not have enough for other things
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