Economics Final Review

Economics Final Review

12th Grade

43 Qs

quiz-placeholder

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Economics Final Review

Economics Final Review

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Medium

Created by

Amy Ricardo

Used 114+ times

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43 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the situation of having unlimited wants but limited resources

t

Scarcity

Opportunity Cost

Implicit Costs

Explicit Costs

2.

DRAW QUESTION

3 mins • 1 pt

Label the Graph.

Media Image

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opportunity Cost

the situation of having unlimited wants but limited resources

the most desirable alternative given up when a choice is made

the traditional out of pocket costs associated with making a decision

A punishment

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Implicit Costs

the situation of having unlimited wants but limited resources

the most desirable alternative given up when a choice is made

the traditional out of pocket costs associated with making a decision

the amount that could have been earned if a different path had been chosen.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explicit Costs

the situation of having unlimited wants but limited resources

the most desirable alternative given up when a choice is made

the traditional out of pocket costs associated with making a decision

the amount that could have been earned if a different path had been chosen.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Positive Incentive

a reward

a punishment

the traditional out of pocket costs associated with making a decision

the amount that could have been earned if a different path had been chosen.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Negative Incentive

a reward

a punishment

the traditional out of pocket costs associated with making a decision

the amount that could have been earned if a different path had been chosen.

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