Multiple Choice - Benchmark A: Opportunity Costs and the Allocationof
Scarce Productive Resources
Name:__________________________ Class:__________ Date:__________
Each sentence has one word missing. Circle the missing word.
1.The decisions made about what resources will be used to produce goodsand services is called __________ .A.economic questionsB.resource allocationC.allocation methodsD.disparity of resources2.The term, __________ , refers to the cost of giving up something whenchoosing something else instead.A.opportunity costB.scarcityC.allocation methodsD.economic questions3.Pricing, command, first-come-first-serve, sharing equally, rationing, andlottery are __________ for scarce resources.A.allocation methodsB.resource allocationC.disparity of resourcesD.opportunity cost4.The uneven distribution or location of natural resources throughout theworld is known as __________ .A.disparity of resourcesB.scarcityC.economic questionsD.resource allocation