Scarcity Quiz 19 (19 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. The Chromebooks you are using are examples of

Correct Answer: D) Capital.

2. Out of 5 of children ..... die worldwide due to water related diseases.

Correct Answer: B) Ages 5 and under.

3. The principle that limited amounts of goods and services are available to meet unlimited wants and needs

Correct Answer: A) Scarcity.

4. Approximately ..... percent of Earth's water is freshwater.

Correct Answer: C) 3.

5. Which of the following would NOT be classified as physical capital?

Correct Answer: D) Oven in your kitchen.

6. What happens when a government prints too much money?

Correct Answer: D) The money will lose its value.

7. In regards to CLIMATE CHANGE, which of the following is NOT true?

Correct Answer: D) Food production will be plentiful.

8. A resource that comes from nature such as water and trees is called a ..... .....

Correct Answer: A) Natural resource.

9. A change in the price of a good causes people to buy more or less of an item. This is ..... ?

Correct Answer: B) Change in quantity demanded.

10. When does scarcity occur?

Correct Answer: B) Always.

11. According to an economist, which of the following would be considered "scarce" ?

Correct Answer: C) An Astronaut.

12. In many undeveloped countries, the burden of managing the household water supply typically falls upon whom?

Correct Answer: A) Females.

13. What are the three factors of production?

Correct Answer: B) Natural, human, and capital resources.

14. Which word means there is not enough of something?

Correct Answer: C) Scarcity.

15. ..... is the number of people who want or need something.

Correct Answer: A) Demand.

16. The main cause of economic problem is

Correct Answer: B) Scarcity of resources.

17. Any object you can buy to satisfy a want

Correct Answer: C) Good.

18. Occurs when the demand for water exceeds the available amount during a certain period or when poor quality restricts its use.

Correct Answer: D) Water stress.

19. Which type of reason for economic growth is promoted through training on how to work more efficiently on the assembly line?

Correct Answer: C) Productivity.