Exploring Scarcity and Opportunity Cost in Economics

Exploring Scarcity and Opportunity Cost in Economics

Assessment

Interactive Video

Social Studies

6th - 10th Grade

Hard

Created by

R. Hernandez

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an example of an alternative activity you might do instead of watching this video?

Cooking dinner

Sleeping

Reading a book

Going for a run

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do economists call the cost of choosing one activity over another?

Variable cost

Opportunity cost

Fixed cost

Sunk cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do choices exist according to economists?

Because we have infinite time

Because we live in a world of scarcity

Because we have limited desires

Because we have unlimited resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main driver in the field of economics?

Technology

Wealth

Scarcity

Abundance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the hypothetical scenario of a world without scarcity, what is one thing people would have unlimited access to?

Money

Time

Friends

Knowledge

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which television show depicts a future where economic scarcity is no longer an issue?

The Expanse

Star Trek: The Next Generation

Black Mirror

The Twilight Zone

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What device in Star Trek: The Next Generation provides unlimited material goods on demand?

Holodeck

Transporter

Replicator

Warp Drive

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