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Answer Key

Grade 6 Social Studies: Economics — Scarcity, Trade-offs & Markets

Teacher reference

1.
not having enough resources to meet all wants
2.
giving up one thing to get another
3.
the value of the next best choice given up
4.
buyers and sellers exchanging goods and services
5.
something that encourages a choice or action
6.
Answers vary: chose which crops; could not have everything
7.
a decision about resources in the past
8.
Answers vary: profit, safety, demand drove routes
9.
not enough resources for all wants
10.
giving up one thing to get another
11.
value of next best choice given up
12.
buyers and sellers exchanging goods

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