The _____ of a resource can affect an entire economy!
demand
sharpness
shape
scarcity
2) Choose the best answer.
Scarcity affects _____ related to or used in the producing of the scarce item.
consumers
laws
products
distribution
governments
3) Choose the best answer.
A scarcity in one country's _____ might affect another country.
military
laws
schools
economy
4) Select FOUR facts about a free-market economy.
People may invest their property or money in a business.
The government allows people to own property.
The government controls businesses.
Businesses may choose which products they will make.
A person's job is decided for them.
People may choose what kind of work they will do.
The government decides which products to make and how many to make.
5) Choose the best answer.
A _____ economy is one where the government rarely interferes.
command
demand
socialist
liberal
free-market
6) Choose the best answer.
In America, businesses _____ to try and outdo one another.
cheat
struggle
compete
promote
7) Choose the best answer.
To _____ is to bother or prevent someone from doing something.
consume
replace
interfere
ignore
promote
8) Choose the best answer.
_____ buy the products and services of the better companies.
Consumers
Distributors
Governments
Producers
9) Choose the best answer.
Why do some laws interfere with business?
The government is in competition with businesses.
The government knows employers cannot be trusted.
The laws protect consumers and make sure businesses compete fairly.
The government wants all the money.
10) Select TWO benefits of business competition.
The government gets to control businesses.
Owners and investors can enjoy their profits.
Consumers get the products they need or want.
Prices always stay the same.
1 answer
scarcity
distribution
economy
free-market
compete
interfere
Consumers
The laws protect consumers and make sure businesses compete fairly.
0 answers
2 answers
1 answer
1 answer