Practice Scarcity with authentic MYP MYP Individuals & Societies exam questions for both SL and HL students. This question bank mirrors Paper 1, 2, 3 structure, covering key topics like core principles, advanced applications, and practical problem-solving. Get instant solutions, detailed explanations, and build exam confidence with questions in the style of MYP examiners.
Fill in the Blank: When an entrepreneur develops a synthetic alternative to a rare mineral, they are effectively __________ the impact of scarcity through innovation.
What characterizes a point that lies exactly on the curve of a Production Possibilities Frontier (PPF)?
Which of the following pairs would both be categorized under the factor of production 'Land'?
What is a primary reason why understanding opportunity cost is valuable for decision-makers?
An outward shift of the Production Possibilities Frontier (PPF) is primarily driven by technological progress and improvements in __________.
Which of the following is specifically identified in the text as an example of 'underutilised' resources?
Productive efficiency is achieved when an economy is producing at a point where it is
How does a market-based economic system typically answer the question of 'for whom' to produce?
What does a point located inside a production possibility curve (PPC) indicate?
In economics, the factor of production known as __________ refers to human-made resources used to produce other goods, such as tools, machinery, and buildings.
Practice Scarcity with authentic MYP MYP Individuals & Societies exam questions for both SL and HL students. This question bank mirrors Paper 1, 2, 3 structure, covering key topics like core principles, advanced applications, and practical problem-solving. Get instant solutions, detailed explanations, and build exam confidence with questions in the style of MYP examiners.
Fill in the Blank: When an entrepreneur develops a synthetic alternative to a rare mineral, they are effectively __________ the impact of scarcity through innovation.
What characterizes a point that lies exactly on the curve of a Production Possibilities Frontier (PPF)?
Which of the following pairs would both be categorized under the factor of production 'Land'?
What is a primary reason why understanding opportunity cost is valuable for decision-makers?
An outward shift of the Production Possibilities Frontier (PPF) is primarily driven by technological progress and improvements in __________.
Which of the following is specifically identified in the text as an example of 'underutilised' resources?
Productive efficiency is achieved when an economy is producing at a point where it is
How does a market-based economic system typically answer the question of 'for whom' to produce?
What does a point located inside a production possibility curve (PPC) indicate?
In economics, the factor of production known as __________ refers to human-made resources used to produce other goods, such as tools, machinery, and buildings.