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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define scarcity in your own words.
💡 Hint: Think about resources and wants.
Question 2
Easy
What is a trade-off?
💡 Hint: Consider choices you make daily.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does scarcity refer to?
- Abundance of resources
- Unlimited resources
- Limited resources against unlimited wants
💡 Hint: Consider the basic definition of scarcity.
Question 2
True or False: Trade-offs are only applicable in economics.
- True
- False
💡 Hint: Think about your everyday decisions.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Consider a country with a limited budget for healthcare and education. Outline the trade-offs policymakers face when deciding how to allocate funds.
💡 Hint: Think about how both sectors impact the economy and future growth.
Question 2
How does scarcity affect individual decision-making in a market economy? Discuss with examples.
💡 Hint: Reflect on personal purchases and how scarcity influenced those choices.
Challenge and get performance evaluation