Econ Chapter 1
Quiz
•
Social Studies
•
10th - 12th Grade
•
Medium
John Martin
Used 3+ times
FREE Resource
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21 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
one of two perpendicular lines in a coordinate system, used to locate a point in space
Axis
curve
graph
coordinate
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is gained by adding one more unit to an activity
marginal cost
marginal benefit
benefit
ceteris paribus
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a system used to manage limited resources for the production, distribution, and consumption of goods and services
economic model
economy
invisible hand
market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the exchange of one benefit or advantage for another that is thought to be better
trade off
marginal benefit
opportunity cost
ceteris paribus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of how a people choose to use their limited resources to satisfy their unlimited wants
microeconomics
macroeconomics
economics
positive economics
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a method of rational inquiry with six steps: (1) posing a question, (2) researching the question, (3) developing a hypothesis, (4) conducting studies and collecting data, (5) analyzing the data, and (6) evaluating the hypothesis
economic modeling
scientific method
economic enigma
macro economics
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the study of the economy at the level of individuals, households, and businesses
microeconomics
macroeconomics
economics
invisible hand
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