به انگلیسی

Choosing costs something

Civics & Economics · Economics · ages 14-15

Name ______________________ Date ____________

Opportunity cost is the single best alternative given up.
Circle one: True False
What does scarcity mean?
- Money buys everything
- Wants exceed resources
- Resources never run out
Which resource is scarce for rich and poor alike?
- Time
- Sand
- Wishes
What does moving along the frontier cost?
- Some of the other good
- Nothing, it is free
- A shift of the curve
What does a point inside the frontier show?
- An unreachable dream
- Wasted resources
- The perfect mix
Why does the frontier bend instead of running straight?
- Rulers draw curves
- Resources suit the two jobs differently
- Points hide behind the axes
What can push the whole frontier outward?
- More means and methods
- Higher price tags only
- Fewer workers
A government puts an extra billion into hospitals. What is the real cost?
- Every listed want at once
- Nothing, budgets are free
- The best other use of that billion

Answer key

For grown-ups. Fold this page away before handing over the rest.

True · It names one best forgone use, not the whole list.
Wants exceed resources · Wants outrun labour, land, materials and time.
Time · Everyone gets just 24 hours a day, however rich.
Some of the other good · More of one good on the curve means fewer of the other.
Wasted resources · Inside means the economy could make more of both goods.
Resources suit the two jobs differently · Shifting ill-suited resources across costs more each time.
More means and methods · Growth in means raises what the economy can make.
The best other use of that billion · The cost is the single best forgone use, such as highways.