intro to Economics

intro to Economics

12th Grade

10 Qs

quiz-placeholder

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intro to Economics

intro to Economics

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Easy

Created by

James Muzquiz

Used 17+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The characteristic from which all economic

problems arise is

political decisions.

scarcity.

how to make a profit.

hunger.

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Jamie has enough money to buy either a

Mountain Dew, or a Pepsi, or a bag of chips.

He chooses to buy the Mountain Dew. The

opportunity cost of the Mountain Dew is

the Pepsi and the bag of chips.

the Pepsi or the bag of chips, whichever

the best alternative given up.

the Mountain Dew.

the Pepsi because it is a drink, as is the

Mountain Dew.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

If the marginal benefit of the next slice of

pizza exceeds the marginal cost, you will

eat the slice of pizza.

not eat the slice of pizza.

be unable to choose between eating or not

eating.

eat half the slice.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When people make rational choices, they

behave selfishly.

do not consider their emotions.

weigh the costs and benefits of their op-

tions and act to satisfy their wants.

necessarily make a decision in the social

interest.

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

A positive statement...

cannot be negative.

cannot be tested.

can be tested against the facts.

depends on someone’s value judgment.

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

"Everyone should make saving the environment their number one priority", is an example of a ...

opportunity cost

trade offs

Normative statments

Positive statments

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

All resources are scarce.

True

False

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