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Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does scarcity mean?
π‘ Hint: Think about the basic concept that resources are limited.
Question 2
Easy
Give an example of a scarce resource.
π‘ Hint: Consider resources you encounter daily.
Practice 4 more questions and get performance evaluation
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is scarcity?
π‘ Hint: Consider the balance between what we desire and what's actually available.
Question 2
True or False: Opportunity cost is always expressed in monetary terms.
π‘ Hint: Think about what you give up beyond just money.
Solve and get performance evaluation
Push your limits with challenges.
Question 1
Evaluate how scarcity impacts decision-making in a city with limited water supply. Discuss what trade-offs the city must consider.
π‘ Hint: Think about how conservation measures versus consumption needs play out.
Question 2
Create a business plan that considers the scarcity of capital. How would you decide between two projects with limited financial resources?
π‘ Hint: Use the criteria of market demand and operational efficiency.
Challenge and get performance evaluation