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Scarcity Quiz 7 (25 MCQs)

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1. Mexico and the United States export fruits and vegetables. Why do they export these goods?

2. A _____ is a person who starts a business.

3. _____ is the amount of something that is available.

4. Another name for the water cycle is _____ ?

5. What is the difference between scarcity and a shortage?

6. Which of the following is "human capital" necessary for producing a new video game?

7. The problem of whom to produce means

8. What type of economy involves a powerful government which owns all the "means of production" and makes all decisions regarding society's resources.

9. The creation of Henry Ford's assembly line is an example of growth by:

10. Only about 3% of Earth's water is fresh water. Of this 3% most of it cannot be used by humans because it is found in _____

11. What are the two different types of water scarcity?

12. Which two products use the same scarce natural resources?

13. How can the contamination of water be considered pollution?

14. Scarcity is _____

15. What word means that there's plenty of something or enough for everyone to purchase?

16. Risk takers who decide how to combine resources to create new goods and services.

17. _____ is the relationship between limited resources and unlimited wants.

18. Which of the following are scarce?

19. Which of the following is an example of CAPITAL

20. What is the economic name for resources?

21. Which one of these is not a scarce item?

22. Something we desire but don't necessarily need for survival

23. If there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of _____

24. Which of the following best summarizes the concept of scarcity?

25. Having a short supply or not enough of something is:

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Scarcity Quiz 7 (25 MCQs)

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