Week 4 - Revision

Week 4 - Revision

10th Grade

10 Qs

quiz-placeholder

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Week 4 - Revision

Week 4 - Revision

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Medium

Created by

Lyall Nelligan

Used 5+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A desirable situation where resources are used for producing the particular types of goods and services that best satisfy society's needs and wants.

Allocative Efficiency

Technical Eficiency

Productive Efficiency

Possibility Efficiency

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The most desirable alternative given up as the result of a decision

Opportunity Cost

Scarcity

Efficiency

Marginal cost

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The Production Possibility Frontier (PPF) is a diagrammatical way to display

Supply and demand

Resource Availability

Standard of living

Opportunity Cost

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

How can an economy expand the PPF line outward?

Reduce resources

Additional resources

Allocative Efficiency

Productive Efficiency

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A point within the PPF is....?

Maximising resource efficiency

Impossible to achieve

Inefficient use of resources

Technical efficiency

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Task word - Distinguish question require ...

Defining both terms and highlighting a difference between them

Defining each term and listing an example

Defining a term and listing the differences between the terms

Listing the differences between the terms

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

A business has narrowed down the most viable investment option to (1) the construction of a new mine ($100 million) and (2) purchase of a $100 million shareholdings in a foreign mining firm. The opportunity cost associated with the construction of a new mine is which of the following?

the $100 million spent on the construction of the mine

the benefits that would have been provided by the $100 million shareholdings

the dividends (share of profits) that would have been generated from the $100 million shareholding

unknown since insufficient information is given

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