What is the relationship between supply and demand in resource management?
Resource Management IH

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Other
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10th Grade
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Medium
legend zain
Used 3+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Supply and demand have no impact on resource management
Supply and demand are unrelated in resource management
As demand for a resource increases, the supply of that resource may increase
As demand for a resource increases, the supply of that resource may decrease
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the concept of economy in the context of resource management.
Ignoring the needs and wants of society to conserve resources
Efficient allocation and utilization of limited resources to meet the needs and wants of society
Using unlimited resources to meet the needs and wants of society
Wasting resources to fulfill society's needs and wants
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is resource allocation important in managing limited resources?
It has no impact on resource management
It helps in prioritizing and distributing resources efficiently.
It causes confusion and inefficiency in resource distribution
It leads to wastage of resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discuss the role of market systems in resource management.
Market systems help in allocating resources efficiently by allowing supply and demand to determine prices and quantities.
Resource management is better handled by government intervention
Market systems lead to unfair distribution of resources
Market systems have no impact on resource management
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the governmental role in the economy and how does it impact resource management?
The government's role in the economy is limited to international trade agreements
The government's role in the economy includes implementing policies, regulations, and taxes that impact resource management.
The government has no impact on resource management
The government's role in the economy is solely to provide financial support
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What factors influence supply and demand in resource management?
Social media trends and influencers
Weather patterns and climate change
Historical events and cultural traditions
Market conditions, production costs, government policies, and consumer preferences
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does resource allocation impact the overall economy?
It determines the efficiency and productivity of the use of resources, which affects the growth and stability of the economy.
It leads to a decrease in the overall productivity of the economy
It has no impact on the overall economy
It only affects a small portion of the economy
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