Explaining that because of scarcity, consumers, producers, and governments must make choices, understanding that everyone’s choice has an opportunity cost.
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Q 1/7
Score 0
The inability to satisfy all wants at the same time. Resources and goods are limited, so choices must be made.
30
consumption
production
scarcity
price
Q 2/7
Score 0
The amount of money that is exchanged for a good or service
30
choice
scarcity
production
price
7 questions
Q.
The inability to satisfy all wants at the same time. Resources and goods are limited, so choices must be made.
1
30 sec
CE.11.a
Q.
The amount of money that is exchanged for a good or service
2
30 sec
CE.11.a
Q.
The using of goods and services
3
30 sec
CE.11.a
Q.
The tools, man-made objects or money used in the production of goods and services
4
30 sec
CE.11.a
Q.
What is given up when a choice is made? The highest valued alternative not chosen.
5
30 sec
CE.11.a
Q.
The combining of human, natural, capital resources and entrepreneurship to make goods or provide services.
6
30 sec
CE.11.a
Q.
Things that motivate. They may influence a person's economic behavior.
