Comment assessment economic
Quiz
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others
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12th Grade
•
Easy
Sonia Cruz-Hernandez
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45 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1.-Which statement best expresses the economic problem of scarcity?
It exists only in poor, underdeveloped countries.
It exists only in a natural disaster.
It existed in the past because of inefficient technology.
It is the basic economic problem facing all societies
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A teenager named Carlos started a car-washing business. He bought 1/4 acre of land downtown and constructed 3 washing bays. He hired 4 workers for his business and trained them to shine tires and clean upholstery. What is considered human capital?
the 3 washing bays
the 4 workers
Carlos
training the workers
the acre of land downtown
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the figure above, the opportunity cost of producing 50 popcorn instead of 40 popcorn is
15 corn on the cob
50 popcorn
10 corn on the cob
10 popcorn
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jamie must decide whether to buy a new truck. He concludes that the marginal costs of buying the truck are greater than the marginal benefits. In Jamie's case, buying the truck would be
a rational economic decision
an irrational economic decision
an opportunity cost
a productive choice
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Product scarcity would most likely cause a business to
petition for government aid
increase prices
lower prices
select a trade-off
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Country A wishes to increase Economic growth and productivity, Country A's BEST course of action to take is to
increase production of natural resources
increase production of consumer goods
pay entrepreneurs to develop new products
increase human capital through education
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the PPC, what point demonstrates the economy has grown and production has increased?
A
B
C
D
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