Feel free to use or edit a copy
includes Teacher and Student dashboards
Measures 1 skill from
Measures 1 skill from
Track each student's skills and progress in your Mastery dashboards
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
11 questions
Show answers
- Q1What does scarcity force consumers, producers, and government decision makers to do?make good use of products they havework harder to make moneymake choicesmake more products30sCE.11.a
- Q2What do all choice have?an opportunity costscarcitychangeproducers30sCE.11.a
- Q3When you make a choice how many choices are you really making?twothreedepends on the number of things there are to select fromone30s
- Q4Who has to face the problem of scarcity?The problem of scarcity faces all individuals and organizations, including businesses and governments: • We have unlimited wants, but our resources are limited. • The goods and services we want exceed our ability to produce them. • Scarcity forces consumers, producers, and governments to make difficult choices.only the very wealthy individuals, organizations including businesses and governmentsthe poor or people in povertypeople who spend more than they earnindividuals, organizations including businesses and governments30s
- Q5What is scarcity?it is the fear that individuals, organizations including businesses and governments have based on a shortage of currencyit is the fear of prices going upit is the inability to satisfy all wants at the same timeit is the fear of not having enough money30s
- Q6What are resources?factors of production that are used in the production of goods and services.money or currencyall the things needed in order to have a marketplacepeople who work30sCE.11.a
- Q7What is choice? is selection of an item or action from a set of possible alternatives. Individuals must choose or make decisions about desired goods and services because these goods and services are limited.a moral or value decision between right and wrongthe opportunity cost of the selectionthe selection of and item or action from a set of possible alternativesthe actual price or cost of and good or service30sCE.11.a
- Q8What is opportunity cost?is a decision that must be made and it will cost you a price or money to buy or pickis the value of an economic opportunity and what that opportunity will cost the individual or organizationis what is given up when a choice is made (the second-best alternative). Individuals must consider the value of what is given up when making a choice.is what is selected when making a choice (the first and best alternative)30sCE.11.a
- Q9What is Production?is the combining of human, natural, capital, and entrepreneurship resources to make goods or provide services.is what is made when nature and creativity are combined with individuals with moneyis a combination of real and personal propertythe things that you have when you combine money, investments and savings30sCE.11.a
- Q10What determines what is produced?Available resources and consumer preferencesavailable moneythe priceresources and advertising30sCE.11.a
- Q11What is consumption? Consumer preferences and price determine what is purchased and consumed.is the using of goods and services.is the using of all your resources and no longer being able to make a productbecause of scarcity consumers are constantly making choicesis what happens when individual and organizations make poor economic decisions30sCE.11.a