AP Micro Unit 1
Authored by Jeff Searcy
Social Studies
12th Grade
Used 81+ times
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44 questions
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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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