Resources and Scarcity

Question 1

Study the graph.In what time period did hydroelectric power usage reach its peak?

Revolt · Accepted Answer

1990–2000

Question 2

Which object is likely to have the most value based on the concept of scarcity?

Revolt · Accepted Answer

a silver necklace

Question 3

A company manufacturing shirts for a discount department store decides to create a new style of cotton shirt. The company would most likely produce shirts that will

Revolt · Accepted Answer

be less costly to create.

Question 4

How would a manufacturer benefit by using fewer scarce resources?

Revolt · Accepted Answer

The product would be less expensive to produce.

Question 5

best

Revolt · Accepted Answer

Consumers must pay higher prices for many items.

Question 6

How does scarcity determine the economic value of an item?

Revolt · Accepted Answer

by the resources consumed in production

Question 7

A thrifty shopper wants to purchase a new phone that is made with quality parts. What factors should they consider?

Revolt · Accepted Answer

High quality phones contain rare earth metals that are a more scarce resource and cost more to the consumer.

Question 8

renewableinexpensiveabundantscarce

Revolt · Accepted Answer

scarce

Question 9

least

Revolt · Accepted Answer

wind

Question 10

Which location focuses its use on a nonrenewable energy source?

Revolt · Accepted Answer

a natural gas power plant

Resources and Scarcity Answers

More from this Course

TRY EDGENUITY HACKS