
Week 4 - Revision
Authored by Lyall Nelligan
Social Studies
10th Grade
Used 5+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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
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
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
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
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
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
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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