Chapter 16 - Lesson 1


Scarcity, Resources, and Economic Systems

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Updated 3 months ago

1. Word cloud
120 seconds
How would you describe the feeling of scarcity?
2. Open question
300 seconds
What is something you have experienced scarcity of recently?
3. Poll
60 seconds
Which of the following is an example of scarcity?
  • A limited supply of clean drinking water in a drought-stricken region
  • An unlimited supply of smartphones in a technology store
  • An equal distribution of food among all households
4. Poll
60 seconds
How does scarcity impact decision-making?
  • It forces individuals and societies to make choices about resource allocation
  • It ensures that resources are always abundant
  • It eliminates the need for decision-making processes
5. Poll
60 seconds
What are the three main types of economic resources?
  • Supply, demand, and price
  • Natural res, labor, and capital
  • Goods, services, and income
6. Poll
60 seconds
Which of the following is not considered a capital resource?
  • Trucks
  • Land
  • Computers
7. Poll
60 seconds
What are human resources in economics?
  • Financial assets such as money and investments
  • The people who work to produce goods and services
  • Raw materials found in nature
8. Poll
60 seconds
Which of the following is an example of a natural resource?
  • Water
  • Technology
  • Money
9. Poll
60 seconds
In which economic system are resources owned and controlled by the government?
  • Free Market
  • Democracy
  • Command
10. Poll
60 seconds
Which economic system is based on private ownership and free market competition?
  • Command
  • Traditional
  • Free Market
11. Poll
60 seconds
What is the main feature of a mixed economy?
  • Combination of market and command economies
  • Strict government control over resources
  • Free market principles

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