Scarcity Flashcards
keywords from the quiz
1
Q
(T/F) Full employment, insufficient
A
False
2
Q
(T/F) Resources not used, underemployed
A
False
3
Q
(T/F) Underemployment
A
False
4
Q
(T/F) Scarcity, unlimited
A
True
5
Q
(T/F) Resources being limited
A
True
6
Q
(T/F) Scarcity, supply induced
A
True
7
Q
(T/F) Scarcity can be structural
A
False
8
Q
(T/F) Price is the value
A
False
9
Q
(T/F) Production possibility curve
A
False
10
Q
(T/F) Efficiency is shown
A
False
11
Q
“the limited nature of society’s resources”
A
Scarcity
12
Q
Wants are _________, but the resources available to satisfy them are _______
A
Unlimited, Limited
13
Q
A curve displays the different combinations of goods and services that society can produce in a fully employed economy
A
Production Possibilities
