What is an economic want?
Unit 1 Review - Midterm

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Social Studies
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Things people would like to have.
2.
FLASHCARD QUESTION
Front
Scarcity means:
Back
Not enough of something you wanted
3.
FLASHCARD QUESTION
Front
If 5 people want an ice-cream, is there a scarcity?
Back
Yes, there is a scarcity.
4.
FLASHCARD QUESTION
Front
If 8 people want a stuffed animal, is there a scarcity?
Back
Yes, there is a scarcity.
5.
FLASHCARD QUESTION
Front
If 2 people want a soccer ball, is there a scarcity?
Back
No, there is not a scarcity.
6.
FLASHCARD QUESTION
Front
Who is affected by the condition of scarcity?
Back
All societies
7.
FLASHCARD QUESTION
Front
Why do all societies have to make decisions about how resources will be used?
Back
There are not enough resources for those who want them
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