The Scarcity Quiz
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Questions and Answers

Which of the following is true about resources?

  • Resources are unlimited
  • Resources are abundant
  • Resources are limited (correct)
  • Resources are scarce
  • What forces societies to make choices?

  • Abundant resources
  • Limited resources (correct)
  • Unlimited resources
  • Scarcity of resources
  • What determines how societies answer the question of what goods and services to produce?

  • Government regulations
  • Individual preferences
  • Limited resources (correct)
  • Unlimited resources
  • Why do societies face difficult choices when it comes to producing goods and services?

    <p>Because resources are scarce</p> Signup and view all the answers

    What happens when there are many different interests competing for limited resources?

    <p>Difficult choices arise</p> Signup and view all the answers

    Which approach to distributing goods and services was adopted by the Soviet Union before its collapse?

    <p>Equal distribution</p> Signup and view all the answers

    What is the main approach to distributing goods and services that most of us know best?

    <p>Ability to pay</p> Signup and view all the answers

    What is the main challenge when it comes to distributing goods and services?

    <p>Determining fairness</p> Signup and view all the answers

    What was the result of the approach to distributing goods in the Soviet Union?

    <p>Those who got in line early got more</p> Signup and view all the answers

    What determines who gets what in the distribution of goods and services?

    <p>Ability to pay</p> Signup and view all the answers

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