CH 20 APES TEST

The goal of using resources to meet the needs of both current and future generations is referred

to as

• sustainability

• NAFTA

• environmental science

• preservation

Tags

NGSS.HS-ESS3-3

NGSS.HS-ESS3-4

Which is the study of how humans allocate scarce resources?

• economics

• geology

• psychology

• environmental science

Tags

NGSS.HS-ESS3-2

The point at which a supply curve and a demand curve intersect is known as

• the transaction cost

• the real cost

• the market equilibrium

• an externality

Through what mechanism do producers and consumers communicate the value of an item?

• functionality

• demand

• price

• externalities

Tags

NGSS.HS-ETS1-3

Which type of economic asset includes human knowledge and abilities?

• environmental capital

• natural capital

• technological capital

• human capital

Which type of economic asset includes all goods and services that humans produce?

• manufactured capital

• natural capital

• environmental capital

• human capital

The cost of a good or service that is not included in the economic price is

• price grouping

• externality

• transaction cost

• demand equilibrium

Tags

NGSS.HS-ETS1-3

In the figure, the original supply curve for a good is S, and the supply curve after the inclusion of an externality is S1. What will happen to the price and quantity of the good described by this graph if a negative externality is taken into account?

• The price and the quantity both increase.

• The price and the quantity remain the same.

• The price increases and the quantity decreases.

• The price and the quantity both decrease.

Tags

NGSS.HS-ETS1-3

If supply is down because demand has increased, what would happen initially?

• There would be a product surplus and the price would rise.

• There would be a product shortage and the price would remain the same.

• There would be a product surplus and the price would remain the same.

• There would be a product shortage and the price would rise.

Which is NOT included in the measurement of GDP?

• consumer spending

• resource depletion

• government spending

• investments