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Production Possibility Curves (Live)

Production Possibility Curves (Live)

Assessment

Flashcard

Social Studies

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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10 questions

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1.

FLASHCARD QUESTION

Front

What is the fundamental problem of every society? Options: labor costs, scarcity, economic interdependence, market fluctuation

Back

scarcity

2.

FLASHCARD QUESTION

Front

What is the definition of the economic term Opportunity Cost?

Back

the value of the next best alternative that is given up due to the choice you made 

3.

FLASHCARD QUESTION

Front

If a point lies inside the curve, what does that tell?

Media Image

Back

They are being inefficient.

4.

FLASHCARD QUESTION

Front

What does point B represent? Options: Production unattainable, Production is inefficient, Production is inefficient but above the maximum potential, Production is efficient and at its maximum potential

Media Image

Back

Production is efficient and at its maximum potential

5.

FLASHCARD QUESTION

Front

What does point Y represent on the PPC?

Media Image

Back

Unattainable

6.

FLASHCARD QUESTION

Front

What is the Opportunity Cost of moving from E to C?

Media Image

Back

100 Ipads

7.

FLASHCARD QUESTION

Front

What is the Opportunity Cost of moving from B to D?

Media Image

Back

200 Iphones

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