Resources and Scarcity

Question 1

least

Revolt · Accepted Answer

wind

Question 2

best

Revolt · Accepted Answer

Consumers must pay higher prices for many items.

Question 3

Which object is likely to have the most value based on the concept of scarcity?

Revolt · Accepted Answer

a silver necklace

Question 4

Based on the lesson, how are individuals and economies similar?

Revolt · Accepted Answer

They both must decide how to allocate resources.

Question 5

renewableinexpensiveabundantscarce

Revolt · Accepted Answer

scarce

Question 6

productresourcevaluecost

Revolt · Accepted Answer

resource

Question 7

The chess club needs to raise money for tournament uniforms. Some members want to sell energy drinks at a football game to raise funds, but others want to organize a car wash in the school parking lot. Based on the concept of scarcity, which thought should drive members' decision-making process to determine how to fundraise?

Revolt · Accepted Answer

Are there enough volunteers to work a car wash?

Question 8

A basic concept in economics is that all resources are

Revolt · Accepted Answer

scarce.

Question 9

Which location focuses its use on a nonrenewable energy source?

Revolt · Accepted Answer

a natural gas power plant

Resources and Scarcity Answers

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