EPF Basic Economics Concepts: Unit 2 Vocabulary
Authored by Stefan Jenczewski
Other
12th Grade
Used 12+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Describes the LIMITED SUPPLY of labor, land and raw materials available
PACED
SMART
scarcity
marshmallow
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The next (second) best alternative you lose out on whenever you make a decision
opportunity cost
trade off
scarcity
SMART
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All the choices that you lose when you make a decision (the benefits you won't receive)
scarcity
opportunity cost
trade-offs
marginal cost
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you make a decision and something bad happens that you didn't want, this is called...
perverse unintended consequences
windfall
scarcity
economics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When you make a decision and something wonderful you did not intend happens this is called...
perverse unintended consequences
windfall
choice
PACED
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The additional cost of producing or consuming ONE more thing
windfall
marginal benefit
marginal cost
scarcity
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The additional benefit received from producing or consuming ONE more unit of something
scarcity
marginal benefit
marginal cost
I don't understand.
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
