Topic 1 - Scarcity

Topic 1 - Scarcity

12th Grade

17 Qs

quiz-placeholder

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Topic 1 - Scarcity

Topic 1 - Scarcity

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Nikki Cessna

Used 22+ times

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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a consumer's desire for a product's or service's specific benefit

need

want

capital

efficiency

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the desire for products or services that are not necessary, but which consumers wish for

labor

need

want

goods

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

resources and products that people demand

shortage

opportunity cost

goods

law of increasing costs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

activities, benefits, and satisfactions which are offered for sale or are provided in connection with the sale of goods

service

trade-off

physical capital

human capital

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the demand for a good or service is greater than the availability of the good or service

labor

efficiency

need

scarcity

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of how people see to satisfy their needs and wants by making choices among scarce resources

shortage

entrepreneur

cost/benefit anlaysis

economics

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

running out of goods and prices go higher

trade-off

shortage

want

need

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