Econ-2.2 Formative Assessment Option 1

Multiple Select

Select all of the following that are true of the PPC Model.

• Shows the opportunity cost of changing from one production combination to another production combination

• Shows us the maximum amount of 4 goods or services

• Shows alternative ways that an economy or a society can use its Factors of Production to produce final goods and/or services​

Multiple Choice

Using the PPC Model and Table given, which of the following is a production point that shows EFFICIENT production of Power Drills and Skis.

• Point F

• Point G

• Point E

• Point Z

Multiple Choice

Using the PPC Model and Table given, which of the following is a production point that shows INEFFICIENT production of Power Drills and Skis.

• Point F

• Point G

• Point E

• Point Z

Multiple Choice

Using the PPC Model and Table given, which of the following is a production point that shows IMPOSSIBLE production of Power Drills and Skis.

• Point F

• Point G

• Point E

• Point Z

Multiple Choice

Assume this society is currently at Production Point B, what would be the opportunity cost to this society of producing the 2nd pair of Skis (moving to Point C)?

• 2 skis

• 2 Power Drills

• 3 Power Drills

• 1 Power Drill

Multiple Choice

 What is the opportunity cost of moving from Production Point E to Production Point C?

• 2 Skis

• 2 Power Drills

• 1 Power Drill

• 1 Ski

Dropdown

An increase in the amount of available workers in an economy would cause the Production Possibilities Frontier to shift to the ​

Select answer

.

Multiple Choice

Which of the following would most likely cause the production possibilities frontier for cars and corn to partially shift inward?

• A computer network shuts down due to a virus.

• There are now fewer factories dedicated to the production of cars.

• A new machine that produces corn faster is invented

• A supply-chain slowdown for getting corn to market was cleared up.

Multiple Choice

 The PPC models given in each scenario below represent the production possibilities of Wheat & Weapons of Mass Destruction (WMDs) in the country of Alpha.  For each scenario given, identify which shift illustrated shows the change described.

Scenario: Everything else remaining constant, dynamite (used in the production of WMDs only) becomes far more abundant.

• Image A

• Image B

• Image C

Multiple Choice

 The PPC models given in each scenario below represent the production possibilities of Wheat & Weapons of Mass Destruction (WMDs) in the country of Alpha.  For each scenario given, identify which shift illustrated shows the change described.

Scenario: Everything else remaining constant, a new wheat-growing technology is introduced in Alpha.

• Image A

• Image B

• Image C

Multiple Choice

 The PPC models given in each scenario below represent the production possibilities of Wheat & Weapons of Mass Destruction (WMDs) in the country of Alpha.  For each scenario given, identify which shift illustrated shows the change described.

Scenario: Everything else remaining constant, the working-age population in Alpha drops significantly.

• Image A

• Image B

• Image C