9/9/2021 Kahoot!

Scarcity
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A private kahoot

Questions (11)

1 - Quiz
The definition of scarcity is? 30 sec

Limited resources are insufficient to satisfy limited wants

Unlimited resources are insufficient to satisfy limited wants

Limited resources are sufficient to satisfy unlimited wants

Limited resources are insufficient to satisfy unlimited wants

2 - Quiz
Why is ring model A more expensive? 30 sec

Because there is a lower demand.

Because there is a lower supply.

Because there is a higher demand.

Because there is a higher supply

3 - Quiz
If more people wants ring model B, how will the price change? 20 sec

Decrease

Increase

Remains unchanged

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4 - Quiz
If no one wants diamond rings, are they still a scarce resource? 20 sec

Yes

No

5 - Quiz
Are diamond rings still a scarce resource if everyone has at least one? 20 sec

No

Yes

6 - Quiz
Which of the following is true about shortages and scarcity? 30 sec

Both shortages and scarcity are temporary.

Both shortages and scarcity result from limited wants.

Shortages can be solved but scarcity cannot be solved.

If there is no shortage, there is no scarcity.

7 - Quiz
Which of the followings are NOT causes of scarcity 20 sec

Increase in demand

Increase in supply

Decrease in demand

Poor distribution of resources

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8 - True or false
Li Ka Shing does not face the problem of scarcity. 20 sec

True

False

9 - True or false
The problem of scarcity can be solved when production increases. 20 sec

True

False

10 - True or false
Sea water is not a scarce resource. 20 sec

True

False

11 - Quiz
Scarcity always exists. 20 sec

False

True

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