Decision Making and Scarcity Flashcards

1

Which of the following is NOT a productive resource?

2

"There is no such thing as ________________."

3

Which of the following is an example of a human resource?

4

Which of the following is an example of a natural resource?

5

What is the fundamental problem that people in all economic systems face ?

6

Why do economists NOT view money as capital?

7

If you earn a full scholarship to college, is college free for you?

8

Which of the following is an example of a capital resource?

9

Why is there no such thing as a free lunch?

10

What could be an opportunity cost of attending college full-time?

11

Due to the fact that everyone faces scarcity, we must all __________________________ .

12

What is "the next best alternative given up when making a choice?"

Decision Making and Scarcity