AP Micro Unit 1

AP Micro Unit 1

12th Grade

•

44 Qs

quiz-placeholder

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AP Micro Unit 1

AP Micro Unit 1

Assessment

Quiz

•

Social Studies

•

12th Grade

•

Practice Problem

•

Easy

Created by

Jeff Searcy

Used 79+ times

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44 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of the economic behavior and decision making of small units, such as individuals, families, and businesses

Macroeconomics

Microeconomics

Economics

Cost-Benefit Analysis

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The study of how people seek to satisfy their needs and wants by making choices

Cost Benefit Analysis

Economics

Macroeconomics

Microeconomics

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth

Microeconomics

Macroeconomics

Economics

Cost Benefit Analysis

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A situation in which unlimited wants exceed the limited resources available to fulfill those wants

Poor

3rd World

Scarcity

Shortage

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

alternative that must be given up when one choice is made rather than another

trade-offs

give-ups

options

discard

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cost of the next best alternative use of money, time, or resources when one choice is made rather than another

Opportunity Costs

Trades

Options

Marginal

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

land, labor, capital, entrepreneurship

Factors of Production

Money

Outputs

Goods

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