Week 04 Tutorial quiz
Quiz
•
Other
•
12th Grade
•
Practice Problem
•
Easy
Mekhala Suriyarachchige
Used 2+ times
FREE Resource
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20 questions
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1.
OPEN ENDED QUESTION
10 mins • Ungraded
Explain what is scarcity ?
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2.
OPEN ENDED QUESTION
10 mins • Ungraded
What are the three inventible problems face by all Economies ?
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3.
OPEN ENDED QUESTION
10 mins • Ungraded
Explain the difference between microeconomics and macroeconomics and give examples of a microeconomic and macroeconomic decision
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4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Offering opinions within an argument is part of
Microeconomics
Macroeconomics
positive economics
normative economics.
5.
DRAW QUESTION
15 mins • Ungraded
Explain with the use of a diagram what is shown by a production possibility frontier.

6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The diagram below shows the production possibility frontier for a country.
The movement along the production possibility frontier from point A to point B means that:
the economy is more productively efficient
the economy is benefiting from economies of scale
the economy has spare capacity
there is an increase in the opportunity cost of consumption goods
7.
OPEN ENDED QUESTION
5 mins • Ungraded
Explain what is happening to the economy if it is producing at point P?
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