Economics Review

Front

Which of these is a need? clean air, new jeans, cool sneakers, your favorite candy

Back

clean air

Front

Which of these is a want? food, water, shelter, smartphone

Back

smartphone

Front

Which of these is an example of a good? a laptop, an apple, a backpack, all of the above

Back

all of the above

Front

Which of these is not an example of a service? babysitting, mowing the lawn, fixing your computer

Back

a vase of flowers

Front

What do people need to live?

Back

Air, food, water, and shelter

Front

Is this a need or want?

Back

need

Front

Is this a need or want?

Back

want

Front

Is this a need or want?

Back

want

Front

TRUE or FALSE: Because we have unlimited wants and scarcity, we have to make difficult choices.

Back

True

Front

Scarcity means:

Back

Not enough of something you wanted