Scarcity, Opp Cost & PPC
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
Student preview

11 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is the most basic problem of economics?
Back
Scarcity
2.
FLASHCARD QUESTION
Front
What is it called when you choose between two possible uses for a resource, giving up one alternative for another?
Back
Trade Offs
3.
FLASHCARD QUESTION
Front
What is the opportunity cost of the bakery's decision to make cookies instead of muffins?
Back
muffins
4.
FLASHCARD QUESTION
Front
What was Joe's opportunity cost when he selected the Ford truck over the Chevrolet?
Back
Chevrolet
5.
FLASHCARD QUESTION
Front
Trade-offs create this. It is the thing that you DO NOT chose. It is what you have to give up in order to get something else. It is your 2nd BEST ALTERNATIVE.
Back
Opportunity Cost
6.
FLASHCARD QUESTION
Front
Opportunity Cost is best defined as
Back
the value of the next best alternative that is given up due to the choice you made
7.
FLASHCARD QUESTION
Front
What is the production possibilities curve?
Back
a graph that shows how much an economy can produce between 2 goods
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Similar Resources on Wayground
8 questions
Unit 3.7 Firm's costs, Revenue & Objective
Flashcard
•
11th Grade
12 questions
Organic 2 Exam 4 Review
Flashcard
•
KG
5 questions
Kuis statistika
Flashcard
•
11th Grade - University
12 questions
Understanding Minimalism Concepts
Flashcard
•
University
4 questions
Types of Brands
Flashcard
•
University
4 questions
SISTEMA LINFOIDE - HISTOLOGIA
Flashcard
•
University
10 questions
SC1X - Week 1
Flashcard
•
University - Professi...
8 questions
CHILDREN 2 (1ST CLASS)
Flashcard
•
KG
Popular Resources on Wayground
7 questions
History of Valentine's Day
Interactive video
•
4th Grade
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
22 questions
fractions
Quiz
•
3rd Grade
15 questions
Valentine's Day Trivia
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
Discover more resources for Social Studies
16 questions
USHC 4.8 Immigration and Urbanization
Quiz
•
9th - 12th Grade
15 questions
Renaissance & Reformation Benchmark
Quiz
•
9th - 12th Grade
18 questions
French Revolution
Quiz
•
8th - 12th Grade
64 questions
USHC 4 Key Terms 22-23
Quiz
•
11th Grade - University
25 questions
Enlightenment and Revolution review
Quiz
•
9th - 12th Grade
7 questions
World Civ Unit 5 Vocab
Quiz
•
12th Grade
60 questions
Unit 11 Imperialism
Quiz
•
8th - 12th Grade
20 questions
USHC 4.3 Labor Unions to Populist Movement
Quiz
•
9th - 12th Grade