SS 9 Shortage, Scarcity , Needs & Wants & Opportunity Cost

The fact that there is a limited amount of resources to satisfy unlimited needs & wants

(a)  

The word that comes from the Greek word for “one who manages a household” is

(a)  

What you give up to obtain an item is called your ?

(a)  

Which of these is NOT an example of a need?

Economics is the study of how people seek to satisfy their needs and wants by making choices.

It is a theory of psychology explaining human motivation based on the pursuit of different levels of needs.

(a)  

The order of Maslow's Hierarchy of Needs, from bottom to top is:

Generation Z, more or less, comprises those who grew up deeply connected to technology, practically from the moment they became self-aware. Generation Z's characteristics are interesting and specific; Generation Z are avid gamers and music-goers, and they are known for being ever-present on the internet. They are truly digital citizens.

How do teenagers prioritize in choosing between needs and wants? How does it reflect their decision-making?