Scarcity Quiz 9 (25 MCQs)

Quiz Instructions:

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1. Why is radioactive waste not scarce?

2. The law of supply is when there is a

3. In a market economy, who decides on the prices of goods and services?

4. How does water impact Gender Equality?

5. Tangible and intangible items people produce to sell

6. Which of the following would NOT be land

7. What is it called when trading happens between two countries?

8. If all resources are being used, what would have to be produced less of if more houses are built?

9. What does an economist refer to as land?

10. When a limited amount of resources are available, consumers must _____

11. Which of the following is NOT an example of scarcity?

12. Scarcity can be defined as _____

13. _____ is the fundamental, universal, and perpetual economic problem that no one is immune to.

14. What is it called when a country buys goods and services from another country?

15. Which of the following resources is NOT (technically) scarce? (Even if it is a bit unusual)

16. When we have to give up one thing, in order to choose another thing

17. What word means that there's not much of something; not enough for everyone to have?

18. What is an Engineer?

19. Most of the earth's surface is covered with

20. When a country is water rich, it has _____

21. Which of the following will shift the PPF to the right

22. Where was the longest drought ever recorded?

23. Complete this list of the factors of Production:A cook, A stove, A steak, and _____

24. Economics is the study of how society manages its

25. The human-made objects used to create other goods and services