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WorksheetsEconomics Scarcity Quiz
Total questions: 1
Worksheet time: 11mins
What is the central idea in all of economics?
Sustainability
Equality
Scarcity
Abundance
What does scarcity mean in everyday life?
Infinite availability of services
Equal distribution of goods
Not enough of something to go around
Abundance of resources
Which of the following is considered the scarcer resource?
Think about the product and what it takes to get it to the right location as well.
Oxygen on Earth
Caviar
Water in a primitive village
Labor
Why is scarcity essential to economics?
To study abundance
To promote sustainability
To understand equality
To allocate scarce resources
What is the opposite of a scarce resource?
Abundance
Sustainability
Equality
Scarcity
What is the reason for the existence of the field of economics?
Abundance of resources
To make money
Scarcity of resources
Equal distribution of goods
Is labor considered a scarce resource?
No, because it is infinite
Yes, because it is humanly possible
No, because it is tangible and easy to find laborers
Yes, because it is tangible but hard to find laborers
Is caviar a scarce resource?
Yes, because it is difficult to obtain
No, because it is free
No, because it is easily accessible
Yes, because it is abundant
Is the view from a house next to an alpine lake a scarce resource?
Yes, because it is easily accessible
No, because everyone can have it
Yes, because not everyone can have it
No, because it is intangible
Is oxygen on Earth considered a free resource?
Yes, because it is abundant
No, because it is scarce
Yes, because it is intangible
No, because it is humanly possible
