AnswersHSA 26-27 EconomicsResources and Scarcity

Resources and Scarcity Answers

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21
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The chess club needs to raise money for tournament uniforms. Some members want to sell energy drinks at a football game to raise funds, but others want to organize a car wash in the school parking lot. Based on the concept of scarcity, which thought should drive members' decision-making process to determine how to fundraise?

A
Where will unsold energy drinks be stored?
B
Is there enough consumer demand for a car wash?
C
Will the concession stand be open during the big game?
D
Are there enough volunteers to work a car wash?
23

Based on the lesson, how are individuals and economies similar?

T
They both must decide how to allocate resources.
T
They both must carefully categorize available resources.
T
They both must recognize the issues with nonrenewable resources.
T
They both must choose whether to use more renewable resources.
24

Based on the lesson, how are individuals and economies similar?

A
They both must decide how to allocate resources.
B
They both must carefully categorize available resources.
C
They both must recognize the issues with nonrenewable resources.
D
They both must choose whether to use more renewable resources.
25

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

A
High quality phones contain rare earth metals that are a less scarce resource and cost less to the consumer.
B
High quality phones contain rare earth metals that are a less scarce resource and cost more to the consumer.
C
High quality phones contain rare earth metals that are a more scarce resource and cost more to the consumer.
D
High quality phones contain rare earth metals that are a more scarce resource and cost less to the consumer.
27

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

A
a flowering plant
B
a silver necklace
C
a new coffee table
D
a crop of oranges
28

Which location focuses its use on a nonrenewable energy source?

A
a wind mill farm
B
a natural gas power plant
C
a fruit orchard
D
a community swimming pool

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Resources and Scarcity Answers — HSA 26-27…