PPC/F, Opportunity Cost, Demand and Supply

Quiz
•
10th - 12th Grade
•
Easy

Jessica Ewalt
Used 11+ times
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The opportunity cost of increasing production from 7 to 9 trucks is
Scarcity
2 boats
2 trucks
3 boats
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The opportunity cost of increasing production from 4 to 7 boats is
1 boat
2 boats
2 trucks
3 trucks
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Any point on the Production Possibilities Frontier represents
Underutilization
Unattainable Level of Production
Efficiency
Inefficiency
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Land, Labor, Capital, and Entrepreneurship are
Diversification
Deductions
Economy
Factors of Production
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does point Y represent on the PPC?
Efficiency
Unattainable / impossible
Nothing
Inefficiency
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which phrase could be used to describe a PPC shifting outward?
Resources wasted or idle
Economic Growth
Inefficient use of resources
A decrease in demand for a product
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the production possibilities curve?
a graph that shows how much an economy can produce between 2 goods
the opportunity one has to give up in order to gain something else
how much money something is worth
and, labor, capital, entrepreneurs
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