Code B SMA 2

What is economics?

• The study of people and choices

• The study of the stock market

• The study of money and getting rich

• The study of men in bow-ties forecasting

What is the main focus of economics?

• Showing real-world applications

• Teaching theories and graphs

• Forecasting market trends

• Analyzing the overall economy

What is the opportunity cost?

• The cost of going to school

• The value of the next best alternative

• The benefit of watching this video

• The cost of watching a video

Why isn't John Green hosting the course?

• He decided to focus on different projects

• He is not interested in economics

• He is too busy writing books

• He is hosting other shows

What are the two most important assumptions in economics?

• GDP and interest rates

• Inflation and unemployment

• Supply and demand

• Scarcity and cost

What is the role of politics in economics?

• To solve all of our problems

• To push a liberal anti-military policy

• To guide public policy using economic theory

• To push a conservative pro-business policy

What is the difference between macroeconomics and microeconomics?

• Macroeconomics studies inflation and unemployment, while microeconomics focuses on supply and demand

• Macroeconomics studies supply and demand, while microeconomics focuses on inflation and unemployment

• Macroeconomics studies the overall economy, while microeconomics focuses on individual choices

• Macroeconomics studies individual choices, while microeconomics focuses on the overall economy

What is the opportunity cost of military spending?

• Hospitals, schools, and roads

• Consumer goods and services

• Marketing budgets and programs

• Insurers, doctors, and hospitals

What can help solve problems without adding more resources?

• Decreasing taxes

• Changing incentives

• Increasing spending

• Expanding government control

What is the main goal of learning economics?

• To become wealthy

• To increase government control

• To make informed decisions

• To predict market trends