1. What is the main reason you can't have everything you want?
- A. Things are too expensive.
- B. There isn't enough for everyone.
- C. Stores run out of items sometimes.
- D. People do not share enough.
2. Maria has two dollars. She wants to buy a juice box and a bag of chips, but she only has enough money for one. What must Maria do?
- A. Ask for more money.
- B. Take both items.
- C. Make a choice between the items.
- D. Wait for the items to go on sale.
3. Imagine a baker can only make ten loaves of bread each morning. Why can't everyone in town buy a loaf from her?
- A. The baker does not want to sell to everyone.
- B. The bread is a scarce good.
- C. The people in town do not have enough money.
- D. The bread is not tasty enough for them.
4. Scarcity means that our wants are greater than our resources. What is a direct result of scarcity?
- A. People must make choices.
- B. All prices for goods go up.
- C. People stop wanting new things.
- D. Stores close down for the day.
5. Which of these situations describes a problem of scarcity?
- A. A store has many different kinds of cereal to choose from.
- B. A library lets you borrow as many books as you want.
- C. Two friends want to buy the last slice of pizza.
- D. A farmer grows more vegetables than he can sell.
6. In a cost-benefit analysis, what does the 'cost' of a decision mean?
- A. The good things that happen from a choice
- B. How much money an item is worth to a seller
- C. What you must give up when you make a choice
- D. The total number of choices you have at a store
7. When you weigh the good parts of a choice against the things you'll give up to help you decide, what is this process called?
- A. A cost-benefit analysis
- B. Selling goods and services
- C. Creating a new market
- D. Checking for product scarcity
8. You have one hour of free time. You can either read a book or play outside. If you choose to play outside, what is a cost of that choice?
- A. You get fresh air.
- B. You have fun playing.
- C. You don't get to read your book.
- D. You can play a game with a friend.
9. When you make a choice about what to buy, what is a 'benefit'?
- A. The money you must pay for an item
- B. The good thing you get from your choice
- C. The item that you decide not to buy
- D. The place where you buy the item
10. You have $10. You can buy a new soccer ball or a video game. If you choose the soccer ball, what is a benefit of your choice?
- A. You cannot play the new video game with friends.
- B. The soccer ball costs you almost all of your money.
- C. You can play outside and get exercise with your friends.
- D. The video game might have been more fun to play indoors.