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WorksheetsScarcity year 10
Total questions: 40
Worksheet time: 24mins
Scarcity means:
Too much of something you wanted
The exact amount of something you wanted
Not enough of something you wanted
What is an economic want?
Things people need in order to survive.
Things people would like to have.
Things people don't want anymore.
If 5 people want an ice-cream, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 8 people want a stuffed animal, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 3 people want a candy bar, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 6 people want a pencil, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 10 people want a piece of gum, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
If 20 people want a soda, is there a scarcity?
Yes, there is a scarcity.
No, there is not a scarcity.
Who is affected by the condition of scarcity?
The rich
Large economies
All societies
Producers (ie: businesses)
Why do all societies have to make decisions about how resources will be used?
People are greedy
There are not enough resources for those who want them
Resources are too expensive for most people
Because there is a huge gap between the rich and poor
A person who purchases a good or service
consumer
taxes
supply
good
Basic things humans need to survive
need
want
import
demand
goods naturally found on the earth
natural resources
supply
demand
services
Something we desire but that is not necessary for survival
Want
Need
Good
Service
The opportunity cost of a good is
its price in dollars and cents.
the alternative goods forgone.
the price of alternative goods foregone.
none of the other options
Andrea has planned a trip to the beach for her family on Labor Day. Her daughter has been invited to the mountains by a friend. Her daughter decides to go to the beach. What is her opportunity cost?
a trip to the beach
a trip to the mountains
Jason has been asked by his son to go ride 4-wheelers this weekend. His boss has asked him to work overtime and get paid double. Jason chooses to go ride 4-wheelers with his son. What is his opportunity cost?
ride 4-wheelers with his son
work overtime for his boss
Ashton tried our for cheer leading and made the varsity team. She can choose to cheer for football or basketball. She chooses to cheer for football, what is her opportunity cost?
to cheer for football
to cheer for basketball
Jaleigh is going shopping with her Aunt and has $20. She wants to buy a pair of jeans and a shirt. The jeans are $15 and the shirt is $20. Jaleigh decides to buy the jeans, what is her opportunity cost?
jeans
shirt
Josh's birthday is coming up. He wants a pair of beats headphones and a PS4. His Mom says he can only get one item. He chooses the PS4, what is his opportunity cost?
beats headphones
PS4
Kason goes to the store to get a snack. He wants chips and a drink but he only has $2.00. The chips are $1.00 and the drink is $1.50 so he doesn't have enough to buy both. He buys the drink, what is his opportunity cost?
drink
chips
What is air?
Natural Resource
Capital Resource
Labour Resource
What is a truck?
Labour Resource
Capital Resource
Natural Resource
What is an Engineer?
Natural Resource
Capital Resource
Labour Resource
Pizza Hut put frankfurters in their pizza crusts. The factory where the sausages are made would be a _____________ resource.
capital
entrepreneurship
labour
land
The founders of Nandos, Fernando Duarte and his friend Robert Brozin, would be an _____________ resource.
capital
entrepreneurship
labour
land
The man who designed the advert for the new Deluxe Crispy Chicken Sandwich, would be an _____________ resource.
capital
entrepreneurship
labour
land
The trees used to make the posters advertising J.K. Rowling's new book, Ickabog, would be a _____________ resource.
capital
entrepreneurship
labour
natural
The computer engineer who repairs the PS4 Pro you dropped is an example of a _________________ resource,
Labour
Land
Capital
Entrepreneurship
If Krispy Kreme is making jam for donuts, the strawberries would a _____________ resource.
capital
entrepreneurship
labour
natural
What kind of resource is this?
Labour Resource
Capital Resource
Natural Resource
The four factors of production are?
Capital, Entrepreneurship, Labour and Land
Capital, Entrepreneurship, Labour and Natural
Money, Buildings, Ideas and Land
Capital, Enterprise, Human and Natural
Adam Smith was?
An Ameican political philosopher
A Welsh geologist
A Scottish economist
An English poet
