Understanding Needs and Resources

What are the basic human needs according to Maslow's hierarchy?

• Emotional needs and social needs.

• Self-actualization needs and esteem needs.

• Cognitive needs and aesthetic needs.

• Physiological needs and safety needs.

How do economic needs differ from wants?

• Economic needs are subjective preferences, while wants are universally accepted essentials.

• Economic needs are luxury items, while wants are basic necessities.

• Economic needs are desires that can be postponed, while wants are immediate requirements.

• Economic needs are essential for survival, while wants are non-essential desires.

What is the significance of sustainable resource management?

• It promotes overconsumption of resources.

• It leads to the depletion of natural habitats.

• It encourages wasteful practices in industries.

• It ensures efficient use of resources, preserves them for future generations, and maintains ecological balance.

Name three examples of basic human needs.

• Clothes, money, transportation

• Food, water, shelter

• Friendship, happiness, technology

• Health, education, entertainment

What is the difference between a need and a want?

• A need is a luxury item; a want is a basic necessity.

• A need is a temporary desire; a want is a permanent requirement.

• A need is something you can live without; a want is something you must have.

• A need is essential for survival; a want is a desire that is not essential.

How can individuals contribute to sustainable resource management?

• Increase consumption of single-use plastics

• Reduce waste, conserve resources, recycle, support sustainable products, and advocate for environmental policies.

• Support non-sustainable businesses

• Ignore environmental issues

What role does government play in fulfilling economic needs?

• The government regulates markets, provides public goods, ensures stability, redistributes income, and promotes growth.

• The government has no role in market regulation or public goods.

• The government only collects taxes and does not influence the economy.

• The government solely focuses on military spending and ignores economic needs.

Explain the concept of scarcity in economics.

• Scarcity is the condition where resources are limited while human wants are unlimited, necessitating choices and trade-offs.

• Scarcity is the idea that all resources are infinite and can be used freely.

• Scarcity refers to the abundance of resources available to meet human wants.

• Scarcity means that human wants are limited while resources are unlimited.

What are renewable resources? Give two examples.

• Plastic and aluminum

• Natural gas and coal

• Two examples of renewable resources are solar energy and wind energy.

• Nuclear energy and fossil fuels

How does consumer behavior affect resource management?

• Consumer behavior directly impacts resource management by shaping demand and influencing sustainable practices.

• Resource management is solely determined by government policies.

• Consumer behavior has no effect on resource management.

• Consumer behavior only influences pricing, not resource allocation.