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AP Macro Unit 1 Scarcity and Opportunity Cost

AP Macro Unit 1 Scarcity and Opportunity Cost

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Easy

Created by

Patrick Herrera

Used 1+ times

FREE Resource

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14 questions

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1.

FLASHCARD QUESTION

Front

How does scarcity influence economic choices?

Back

It forces individuals to make decisions

2.

FLASHCARD QUESTION

Front

Economics

Back

Study of how people use resources

3.

FLASHCARD QUESTION

Front

Why is opportunity cost important in decision-making?

Back

It helps in evaluating the cost of alternatives

4.

FLASHCARD QUESTION

Front

What does microeconomics focus on?

Back

Individual and business decisions

5.

FLASHCARD QUESTION

Front

Every economic decision has multiple _______.

Back

Trade-offs

6.

FLASHCARD QUESTION

Front

How many opportunity costs does every economic decision have?

Back

One

7.

FLASHCARD QUESTION

Front

What is a trade-off when going to economics class?

Back

Missing a part-time job

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