Micro U1 Review

Micro U1 Review

11th - 12th Grade

25 Qs

quiz-placeholder

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Micro U1 Review

Micro U1 Review

Assessment

Quiz

Social Studies, Other

11th - 12th Grade

Medium

Created by

Robert Brown

Used 4+ times

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25 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

The concept where society has unlimited wants and limited resources is known as

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of following are factors of production?

Land

Capital

Money

Labor

Entrepreneur

3.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

The graphically representations of opportunity cost between two goods is known as

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Which points would be considered efficient?

Point N

Point M

Point S

Point R

5.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Which points on the graph are underutilized?

Point N

Point J

Point S

Point R

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

How can an economy reach point M?

Increasing productivity

Trade

Letting go employees

Paying more for resources

7.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

_______________ Advantage is when one country has the lower opportunity cost when producing one good or service.

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