Section One - Scarcity and the Science of Economics 1. Explain the problem of scarcity and why even wealthy nations must contend with it.
2. Is scarcity caused by a shortage of money? What would happen to scarcity if the government decided to give everyone $1 million dollars? Explain your answer.
3. List the three basic economic questions that all societies must answer.
4. List the factors of production. Provide a description and an example of each.
5. Define economics in your own words.

"neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the united states, or any place subject to their jurisdiction." - the thirteenth amendment to the united states constitution, 1865 which statement describes the effect that the thirteenth amendment had on american society? a) male freedmen were given the right to vote. b) slavery was made illegal in the united states. c) ex-slaves were given united states citizenship. d) southern states were no longer allowed to use convicts as labor.