Studies Weekly 29: Scarcity

Giving up one thing for something else you want more is called ​ ​ (a)   .

• an opportunity cost
• greedy
• an opportunity
• a cost coefficient

What would be an opportunity cost of driving a car to school instead of walking?

• getting to school quickly

• staying out of bad weather

• being comfortable

• getting no exercise

According to the video, making a choice usually means you have to look at the ​ ​ (a)   of each choice.

• benefits
• costs
• dangers
• power

In the line, "We do not have enough tickets to buy all the prizes we want from the arcade gift store, so we have a scarcity of tickets," what does "scarcity" most likely mean?

• no tickets

• large amount

• medium amount

• small amount

Natalia and Steven study all of the following economic concepts EXCEPT​ (a)   .

• manufacturing
• opportunity cost
• supply
• scarcity

Where did Natalia's dad take Natalia and Steven?

• farmers market

• grocery store

• toy store

• arcade

Why would someone choose to add solar panels to their home when it costs so much money?

• because it makes your house look cool

• because it allows you to use electricity during the day

• because it allows you to save money on your electric bill

• because it allows you to run many appliances at once in your house

All of the following are examples of things to consider when you need to pay for something you need EXCEPT ​ (a)   .

• decisions
• demand
• goods
• scarcity