Scarcity & Choices
What does “scarcity” mean in economics?
When resources are limited and choices must be made.
What is one main reason people work?
To earn an income.
What decade did the Brisbane Broncos join the NRL competition?
1980s
What house at Hogwarts does Harry Potter belong to?
Gryffindor
What is the “opportunity cost” when you choose to spend money on lunch instead of saving it?
The saving or other item you gave up.
Name one non-financial reason people might work.
To learn skills or help others.
Which Taylor Swift song includes the lyric “You call me up again just to break me like a promise”?
→ All Too Well
What position does Harry play on the Gryffindor Quidditch team?
Seeker
Name one type of resource that can be scarce in a community.
Water, land, time, or labour.
What’s an example of a job that earns income through wages? →
Retail worker, nurse, or teacher.
The Brisbane Broncos play most of their home games at which stadium?
Suncorp Stadium
What spell is used to disarm an opponent in a duel?
Expelliarmus
How does scarcity lead people and governments to make decisions? →
They must prioritise how limited resources are used.
What is the term for money received from owning a business?
→ Profit.
When Taylor Swift performed in Brisbane on The Eras Tour, what was the estimated amount of money her concerts contributed to Queensland’s economy? (1 000000, 10000000, 100000000
Around $100 million
What is the name of the machine used to shape clay into symmetrical forms?
Pottery wheel
Give one example of how schools or councils share limited resources fairly.
Setting budgets for classrooms, sports, and maintenance.
Why is it important for individuals to plan how they spend their income?
To manage money, save, and meet their needs responsibly.
$500 – In the 2023 NRL Grand Final, which Brisbane Broncos player scored a hat-trick,
Erza Mam
What object does Dumbledore leave to Hermione in his will, and what was its secret purpose?
The Tales of Beedle the Bard; it contained clues about the Deathly Hallows