
Economic WK 2
Authored by Afolashade Adebomi
Business
12th Grade
Used 1+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The ranking of a consumers' needs in order of importance is termed
An opportunity cost
Economies of scale
Scale of preference
Direct production
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Rents and interest are the rewards to
Labor and capital respectively
Land only
Capital and labor respectively
Capital only
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The continuous migration of capable hands in a country is known as
Migration
Immigration
Brain drain
Drain brain
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
At what price will a trader be ready to sell six oranges using the equation, p = q + 2. Where p is price and q is the quantity
#3
#4
#8
#6
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Lydia is a babysitter. Which of the following ways can she increase her human capital?
Babysit only one child at a time
Charge a higher price for her babysitting
Purchase toys she can use while she babysits
Attend a class to improve her babysitting skills
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Which of the following is not an example of exchanging human capital for income?
Walking a neighbors dog for $1
Washing your dishes and making your bed for your weekly allowance of $3
Watering a neighbor's plants while they're on vacation for $5
Receiving $5 from your grandmother for your birthday
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
When income is $200 consumption is $140, and when income is $250 consumption is $180. The marginal propensity to save is
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