Pretest 1

Pretest 1

University

17 Qs

quiz-placeholder

Similar activities

India's Neighbours

India's Neighbours

1st Grade - Professional Development

14 Qs

FIN552 Chapter 1 Investment & Securities Market

FIN552 Chapter 1 Investment & Securities Market

University

18 Qs

CHAPTER 1 (PART 1) PHYSICAL FITNESS_HSC2113

CHAPTER 1 (PART 1) PHYSICAL FITNESS_HSC2113

University

20 Qs

SRSR / HPB

SRSR / HPB

University

15 Qs

EPS SOCIOLOGY FUNCTIONALISM QUIZ

EPS SOCIOLOGY FUNCTIONALISM QUIZ

University

18 Qs

MYTHBUSTERS

MYTHBUSTERS

University

13 Qs

Test Wawasan

Test Wawasan

University

16 Qs

DASAR DASAR MANAJEMEN PERCOBAAN KE DUA

DASAR DASAR MANAJEMEN PERCOBAAN KE DUA

University

15 Qs

Pretest 1

Pretest 1

Assessment

Quiz

Social Studies

University

Practice Problem

Medium

Created by

Andrea Camargo

Used 524+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

17 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The diagram shows the production possibilities curve for Country Y. Which of the following statements is true?

If Country Y is producing at point C, it is using all its resources efficiently

The opportunity cost of producing more machines is constant

Country Y cannot produce at point E

The most efficient point of production is point D

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Which of the following constitute the fundamental questions every economic system must answer?

I, III, V only
I, II, and IV only
I, II, and V only
II, IV, and V only

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

There are four types of economic systems. Most economies are _____.

Traditional

Command

Market

Mixed

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Johnny has $50 and wants to buy a pair of Nike Shoes that cost $95.  He has to settle for a pair of Sketchers for $45.  In economic terms Johnny is facing the problem of: 

Shortage
Scarcity 
Unemployment 
Marginal costs

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

He is the founding father of economics

John Maynard Keynes

Adam Smith

David Ricardo

Joseph Schumpeter

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The opportunity cost of building a new library is the:

cost of building the skate park now as opposed to building the library later.

next best alternative goods or services that must be given up to build the library.

monetary cost of the new library.

cost of supervising library activities.

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Basic economics concepts

Scarcity, choice & wants

Scarcity, choice & second best alternative to let go

Scarcity, overhead cost & choice

Scarcity, choice & needs

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?