Sofia and Andres are planning a community project and need to decide how to allocate their limited resources. What are they aiming to satisfy in economics?
W1_Econ: Scarcity & FOPs

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Social Studies
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12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Their needs and wants
2.
FLASHCARD QUESTION
Front
Luther and Sofia are planning a community event but have a limited budget and many ideas for activities. What economic concept does this situation illustrate?
Back
Scarcity
3.
FLASHCARD QUESTION
Front
In a small town, Mia runs a bakery where she often finds that the ingredients she needs are limited, but the demand for her cakes is unlimited. Which term describes this situation?
Back
Scarcity
4.
FLASHCARD QUESTION
Front
In a small town, Emma runs a bakery where she makes bread and pastries to meet the needs and wants of the community. Who is Emma in this scenario?
Back
Producers
5.
FLASHCARD QUESTION
Front
When Makayla goes shopping, what are the physical items she can buy called?
Back
Goods
6.
FLASHCARD QUESTION
Front
In her economics class, Sophia is learning about different factors of production. Her teacher explains that land includes...
Back
The "gifts of nature" or natural resources not created by human effort.
7.
FLASHCARD QUESTION
Front
What does 'capital' mean in the context of Zariah and Enrique's project to create handmade crafts?
Back
the tools, equipment, and factories used in production of goods and services
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