
Unit 2: Economics
Authored by Karen Hyland
History
12th Grade
Used 14+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarce but relatively useless goods may be worth more than useful abundant goods.
paradox of value
paradox of cost
paradox of quality
paradox of profit
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_______ are things that are favorable to a decision maker.
goods
costs
benefits
profits
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______ are things that are unfavorable to a decision maker.
benefits
costs
profits
services
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Unintended consequences are _______ costs or benefits.
known
unforseen
limited
unlimited
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue generated from a business activity which exceeds the costs to create the goods or services.
money
expenses
profit
overhead
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tangible items that consumers want to purchase.
trade off
opportunity cost
services
goods
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When labor is performed for profit.
service
product
good
resource
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