Microeco Finals

Microeco Finals

University

38 Qs

quiz-placeholder

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Microeco Finals

Microeco Finals

Assessment

Quiz

Business

University

Practice Problem

Easy

Created by

Naling Renmar

Used 7+ times

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38 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

is the foregone value of the next best alternative the value of things we give up. We weigh the costs and benefits of various options, including opportunity costs though sometimes, this cost cannot be expressed in terms of money.

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Our ____ is that we merely have limited resources to satisfy relatively unlimited wants.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

There are enough resources to suffice everything that everyone wants. Therefore, humans must make a choice.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

We weigh the costs and benefits of various options, including opportunity costs though sometimes, this cost cannot be expressed in terms of money.

True

False

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

assume that we pick the choice we find more of value.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the economic world, both is not applicable because we only have limited resources, as so with time.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Whichever option is chosen, you will not miss the value of the other options.

True

False

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