Practise MYP Individuals & Societies questions on 2.1 Scarcity and review the explanations to check your understanding.
Use these questions for topic practice and to find ideas you want to revisit in your notes or lessons.
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'?
Which of the following is specifically identified in the text as an example of 'underutilised' resources?
How does a market-based economic system typically answer the question of 'for whom' to produce?
ignoring
measuring
increasing
mitigating
The combination is currently unattainable
It represents a state of zero opportunity cost
Resources are being underutilized
It is productively efficient
A bank loan and a gold mine
A tractor and a farmer
A factory building and its manager
Crude oil and a waterfall
The creation of new technology
An increase in the total labour force
High levels of unemployment or wasted capacity
The use of fertile land for farming
By distributing goods equally to all citizens based on need
Through central government planning committees
Based on the ability and willingness of consumers to pay
By prioritizing the needs of the military and infrastructure
