Ch1 Scarcity & Opportunity Cost
Life Skills
9th - 12th Grade
Used 512+ times
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9 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True/False: Human wants will always exceed available resources.
TRUE
FALSE
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These are the things we desire to have.
Wants
Goals
Opportunity Costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When "wants are greater than the resources available to satisfy them," it is called...
Scarcity
Needs
Opportunity Cost
None of these answers
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Because of scarcity, people are forced to make _________ about how to use resources.
Choices
Opportunities
Houses
Desires
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you make a choice, you often have to give up other options...those things are called the...
Opportunity Cost
Missed Opportunities
Misused Resources
Scarce Options
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is opportunity cost?
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is scarcity?
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