WorksheetsConcept of Scarcity
Total questions: 6
Worksheet time: 2mins
It is a condition where resources are limited to satisfy the unlimited wants and needs of the people.
Scarcity
Hoarding
Shortage
Panic Buying
What is the cause of scarcity?
Sudden increase in demand
Natural and man-made calamities
Poor distribution and allocation of resources
All of the above
If 30 chairs were not enough for the 50 participants in an event, what is experienced by the organizers?
Scarcity
Hoarding
Shortage
Panic Buying
Nina bought 50 bottle of rubbing alcohol due to fear that she will ran out if she buys later. What do we call this act?
Cartels
Scarcity
Hoarding
Panic Buying
Due to high demand, some producers of sardines decided to hold off their products to the market so that they can raise their prices. What do we call this act?
Hoarding
Scarcity
Shortage
Natural Shortage
Is scarcity a problem? Why?
