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WorksheetsScarcity and the Science of Economics
Total questions: 20
Worksheet time: 10mins
Is the condition that results from society not having enough resources to produce all the thing s people would like to have:
Economics
Need
Scarcity
Paradox of Value
Wealth
Something we would like to have but is nor really necessary for survival el called:
Value
Need
Good
Want
Utility
A basic requirement for survival, such as food, clothing, and shelter, is calle:
Wealth
Service
Want
Need
Value
The accumulation of products that are tangible, are scarce, have utility, and are transferable from one person to another is called:
Wealth
Good
Want
Value
Need
A tangible economic product that is useful, transferable to others, and used to satisfy wants and needs is called:
Need
Good
Service
Want
Value
A work of labor performed for someone; economic product that includes haircuts, home repairs, and forms of entertainment is called:
Service
Good
Need
Money
Want
Some necessities, such as water, have a very low monetary value and in the other hand some nonnecessities, such as diamonds, have a very high value. This contradiction is called:
Capital Good
Consumer Good
Paradox of Value
Nondurable Good
Durable Good
The ability of capacity of a good or service to be useful and give satisfaction to someone is called:
Service
Good
Value
Wealth
Utility
The monetary worth of a good of service as determined by the market is called:
Value
Utility
Wealth
Service
Good
The social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use os scarce resources is called (a)
Taehee went to a pet shop and bought a puppy. What Taehee acquired is:
An Utility
A durable good
A product
A need
None of above
Anthonella went to a bank to get a loan so she could buy her first car. She bought a Honda CRV 2023. Anthonella´s car is:
A nondurable good
A need
A financed payment
A Fixed expense
A durable good
Luna wants to go to a party tonight and she doesn´t have an available car right now so she takes a Uber. She paid the Uber with her credit card. Luna is paying for:
A service
An utility
A financed payment
A Need
A consumer good
The iPhone 14 is coming out next march 8, 2022. Diego is willing to pay any price to acquire that cellphone, but Ricardo thinks that is gonna be too expensive so he is buying an iPhone 12. This contradiction is called:
Wealth
Paradox of value
Utility
Planned expense
Paradox of cost
In his exposition, Victor said that a good must be:
Transferable to others, useful, used to satisfy wants and needs.
Transferable to others, utility, value and need.
Useful, nontransferable, nondurable and have value.
Walth, service, value and utility.
Wanted, needed, valuable and durable.
In her exposition, Vanessa said that the concept of wealth is not satisfied for the acumulation of:
Millions of dollars
Millions of books
Millions of shoes
Millions of services
Millions of chocolates
When Cayi prepared her budget she said that her college tuition was going to be $15,000 dollars because she is gonna study in Canada so she is gonna manage a loan for that. The values she pays every month are called:
Fixed expenses
Variable expenses
Financed payments
Paradox of value
Durable good
In her exposition, Maria said that the fundamental economic problem facing all societies is:
The paradox of values
The consumer good
Scarcity
The nondurable goods
Wealth
For his business, Sebastian is buying a paper cup machines to sell coffe cups to Santo Domingo Industries. The cost of the machine was $80,000 dollars in China. In Economics this machine is considered:
A nondurable good
A want
A capitala good
A service
A paradox of valaue
In her exposition, Rosa talked about durable goods. Select witch of the next list has the characteristics to be par of that definition.
Carla buys a hamburger
Milisent buys a notebook for her Economics class
Ashley is buying two pencils
Nathaly buys a bed
Andrea buys a permanent marker
