Progress test 1 revision

Progress test 1 revision

University

20 Qs

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Progress test 1 revision

Assessment

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University

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Created by

phuong Trinh

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20 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

It is assumed that everyone tends to behave ___________ when they make choices.

rationally
critically
logically

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When making choices, rational individuals make a comparison between ___________ and ____________.

benefit; cost
marginal benefit; marginal cost
demand; supply

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which factor influences the decisions of households, firms and workers in markets?

Prices
Quantities
Policies

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which economy happens when the government makes the most important decisions about the production and costs of goods and services consumed? 

Command economy
Free market economy
Mixed economy

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In free market economy, which of the following leads individuals to do things that are in the interests of society as a whole? 

Government policies
The invisible hand
Prices of goods and services

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How many principles of economics are there?

8

9

10

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Principle ____________ indicates how people interact with one another?

1-4
5-7
8-10

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