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Demand BASICS

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

Wants are...

a)

Things you must have

b)

Things you would like to have...

c)

Things you will buy...

d)

Things you have...

2.

Scarcity is ...

a)

unlimited wants and unlimited resources

b)

limited wants and unlimited resources

c)

unlimited wants and limited resources

d)

limited wants and limited resources

3.

CHOICES are necessary because...

a)

limited wants and unlimited resources

b)

unlimited wants and limited resources

c)

limited wants and limited resources

d)

unlimited wants and unlimited resources

4.

All choices result in an...

a)

opportunity cost

b)

accounting cost

c)

large costs

d)

alternative cost

5.

Opportunity cost is...

a)

The next best alternative missed out on

b)

all the choices you didn't take

c)

the price of the second option

d)

the price of the first option

6.

A human resource in the classroom is...

a)

TV

b)

desk

c)

teacher

d)

student

7.

A human-made resource in a school is...

a)

principal

b)

desk

c)

teacher

d)

student

8.

A natural resource in a farm is...

a)

tractor

b)

cow

c)

farmer

d)

fence

9.

Which resources can be renewable resources?

a)

all resources

b)

human-made resources

c)

human resources

d)

natural resources

10.

Which resource is renewable?

a)

oil

b)

coal

c)

forest

d)

gold

11.

Which resource is not a renewable resource?

a)

climate

b)

teacher

c)

geothermal energy

d)

wind energy