Explain Scarcity and Limited Resources

Review Lesson 2

Directons: Answer each of the questions below.

1. Explain Scarcity and Limited Resources in your own words.

2. Identify and describe the four types of societal resources and give examples of each.

3. On the basis of your observations, which factors of production are scarce in your community? Give examples of each.

4. Explain why societies can or cannot satisfy all the wants of its people. Explain your answer and provide an example.

5. Do different societies require different amounts of societal resources? Explain your answer and provide an example.

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