Exam (elaborations)
Resources And Scarcity Questions & Detailed Answers
- Course
- Resource Scarcity
- Institution
- Yale University
Resources And Scarcity Questions & Detailed Answers
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Resources And Scarcity Questions &Detailed Answers
A ________ can be defined as whatever people use to create services and goods. -
ANS Resource
School band members need to raise money for new uniforms. Some members
want to sell energy drinks at a football game, but others want to organize a car
wash in the school parking lot. Based on economics, what would be most
influential in making the decision?
the labor needed
the consumer demand
the capital needed
the value of the resources - ANS The value of the resources
Which resource is both renewable and inexpensive?
gold
coal
lumber
minerals - ANS Lumber
, What does the concept of scarcity explain? Check all that apply.
why a product could lose significant value over time.
why people continue to purchase different products.
why consumers are willing to pay high prices for items.
why decisions must be made on how to use resources
why resources can be both renewable and nonrenewable.
why a single resource has more value than another resource. - ANS Why
consumers are willing to pay high prices for items.
Why decisions must be made on how to use resources.
Why a single resource has more value than another resource.
Study the graph.
In what time period did hydroelectric power usage reach its peak?
1970-1980
1980-1990
1990-2000
2000-2010 - ANS 1990-2000
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