Basic Economic Concepts Review
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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19 questions
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1.
FLASHCARD QUESTION
Front
Scarcity means:
Back
Not enough of something you wanted
2.
FLASHCARD QUESTION
Front
What is an economic want?
Back
Things people would like to have.
3.
FLASHCARD QUESTION
Front
Who is affected by the condition of scarcity?
Back
All societies
4.
FLASHCARD QUESTION
Front
Why do all societies have to make decisions about how resources will be used?
Back
There are not enough resources for those who want them
5.
FLASHCARD QUESTION
Front
TRUE or FALSE: We can have everything that we want because we have unlimited resources.
Back
FALSE
6.
FLASHCARD QUESTION
Front
which of the following would be CAPITAL: a machine, a box of cereal, water, a new risky idea?
Back
a machine
7.
FLASHCARD QUESTION
Front
Which of the following would NOT be land: water, minerals, toothpaste, crude oil?
Back
toothpaste
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