What is the definition of scarcity?
Understanding Economics

Quiz
•
Business
•
9th Grade
•
Medium

Anonymous Anonymous
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The unlimited availability of resources.
The limited availability of resources, forcing people to make choices.
The abundance of money and time.
The ability to have everything we want.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a "need"?
Designer clothes
Concert tickets
Basic clothing
Streaming subscriptions
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens to prices when demand is high and supply is low?
Prices go down.
Prices remain the same.
Prices go up.
Prices fluctuate randomly.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a "want"?
Food
Shelter
Video games
Medicine/healthcare
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cost in the decision-making process?
The benefit you gain from a decision.
The reward you receive for making a choice.
What you give up when you make a decision.
The total amount of money spent.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a store offers a discount for buying two items instead of one, what type of incentive is this?
Negative Incentive
Positive Incentive
Neutral Incentive
No Incentive
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the benefit in the decision-making process?
The amount of money you save.
The consequence of a poor decision.
What you gain from the decision.
The time you spend making a decision.
Create a free account and access millions of resources
Similar Resources on Quizizz
21 questions
Economics Unit 1 Vocabulary Quiz

Quiz
•
9th - 12th Grade
20 questions
Economics - Chapter 1

Quiz
•
9th - 12th Grade
20 questions
2022_IN CLASS ONLY_ Business Essentials FINAL review

Quiz
•
9th - 12th Grade
20 questions
Marketing Dynamics Price Vocab

Quiz
•
9th Grade
20 questions
Market Structures (Economics) (1-20)

Quiz
•
9th - 10th Grade
20 questions
U3L1b HW Econ on Quizizz

Quiz
•
9th - 12th Grade
25 questions
Marketing: Pricing, Promotion and Distribution

Quiz
•
8th Grade - University
19 questions
Market equilibrium

Quiz
•
9th - 12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
25 questions
SS Combined Advisory Quiz

Quiz
•
6th - 8th Grade
40 questions
Week 4 Student In Class Practice Set

Quiz
•
9th - 12th Grade
40 questions
SOL: ILE DNA Tech, Gen, Evol 2025

Quiz
•
9th - 12th Grade
20 questions
NC Universities (R2H)

Quiz
•
9th - 12th Grade
15 questions
June Review Quiz

Quiz
•
Professional Development
20 questions
Congruent and Similar Triangles

Quiz
•
8th Grade
25 questions
Triangle Inequalities

Quiz
•
10th - 12th Grade