WorksheetsAllocation of goods and services
Total questions: 20
Worksheet time: 58mins
A service is .....
something someone does for you.
something someone makes.
something someone creates.
something you find in a store.
A good is......
something you buy.
something you need or want.
something you use or consume.
All of the above
When goods or services are hard to get or find, we say they are......
easy.
scarce.
empty.
plentiful.
When goods, services or resources are scarce, sometimes the cost of that good or service goes up and it becomes expensive. We call this allocation by ....
lottery.
sharing.
price.
contest.
When goods, services or resources are scarce, decisions have to be made about who will have them first. We call this process.......
allocation.
consumers.
producers.
economics.
Sometimes when goods, services or resources are scarce, the first people who come to get them, are the first to receive them. We call this.....
a contest
a lottery.
first come, first served.
drawing a name out of a hat.
Sometimes when goods or services are scare people divide things out so that everyone who wants or needs it gets a little bit. We call this method of allocation......
personal characteristics.
a contest.
first come, first served.
sharing.
Giving goods, services, or resources out to the people who need them most is called allocation by.....
personal characteristics.
sharing.
a lottery.
a contest.
Sometimes, the person, or people in charge must make decisions about how goods, services or resources should be allocated. This is call allocation by....
majority rule.
personal characteristics.
authority.
a contest.
Sometimes goods, services or resources are given to people because they win them. We call this method of allocation....
a contest, a drawing or a lottery.
sharing.
price.
majority rule.
A resource is.....
something that you ride at Six Flags.
something that is available for use, or that can be used for support or help.
something that copies papers.
something you find in the car.
Economic resources are the goods or services available to people and businesses that are used to makes products we need and want.
True
False
A natural resource is something that is found in nature and is necessary or useful to humans.
True
False
Human resources are workers; people who make goods or provide services.
True
False
Capital resources are goods made by people and used to produce other goods and services.
True
False
Sometimes when goods, services or resources are scare, people take a vote to decide who will receive them. We call this method of allocation....
a contest.
authority.
majority rule.
a lottery.
You and your brother are hungry, but there is only one bag of chips left in the house, the two of you decide to divide the bag of chips. This is called.....
a lottery.
sharing.
a contest.
majority rule.
Ms. Neff only has 15 minutes to use to work with students who need her help. She decides to work with the student who is having the most trouble first. This is called allocation by....
contest.
majority rule.
personal characteristics.
a drawing.
Ms. Neff and Mrs. Ransom wanted to go to a concert, but there weren't going to be many tickets sold, so they got up early to be the first in line to buy the tickets. This is an example allocation by....
authority.
a contest.
price.
first come, first served.
After she passed out the cookies, Ms. Neff saw that there were three left.She didn't want them to go to waste, so s
he decided to give them to the 3 girls sitting at the last table. That is called allocation by.....
price.
first come, first served,
authority.
majority rule.
