
Applied Economics
Authored by oig bern
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12th Grade
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40 questions
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1.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The application of economic theory and econometrics in specific settings with the goal of analyzing potential outcomes.
economics
applied economics
2.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Refers any subject that deals with human behavior. Political science, Psychology, Ethics, etc.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of the ways that individuals and societies allocate their limited resources to satisfy their unlimited wants.
economics
applied economics
scarcity
applied science
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
the limited availability of a commodity, which may be demand in the market or by the commons. Also includes an individual’s lack of resources to buy commodities.
scarcity
relative scarcity
absolute scarcity
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Known as factors of production, are the resources used to produce goods and services.
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
A division of economics that is concerned with the overall performance of the entire economy.
Macroeconomics
Microeconomics
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Concerned with the behavior of individual entities such as the consumer, the producer, and the resources owner. It is more concerned on how goods flow from the business firm to the consumer and how resources move from the resource owner to the business firm.
Macroeconomics
Microeconomics
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