Economics

Economics

12th Grade

10 Qs

quiz-placeholder

Similar activities

bts

bts

KG - Professional Development

13 Qs

Community Engagement - Class Review

Community Engagement - Class Review

12th Grade

10 Qs

Philosophy_Pre-test

Philosophy_Pre-test

12th Grade

10 Qs

Economics Quiz

Economics Quiz

11th Grade - University

10 Qs

Renaissance and Reformation

Renaissance and Reformation

7th - 12th Grade

13 Qs

L34 Punishment and the CJS

L34 Punishment and the CJS

12th Grade

13 Qs

Kuis Perubahan Sosial

Kuis Perubahan Sosial

9th Grade - University

10 Qs

Y12 U1 Geography of Indonesia

Y12 U1 Geography of Indonesia

11th - 12th Grade

10 Qs

Economics

Economics

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wendy Rillera

Used 8+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This occurs when previously unemployed factors of production are brought in to use. It is represented by a movement from a point within a PPC to a new point nearer to the PPC.

actual growth

growth in production possibilities

economic growth

production growth

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The extra cost to society of producing an additional unit of output, including both the private cost and the external costs.

external cost

marginal social cost

societal cost

welfare loss

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ability of a firm to influence or control the terms and condition on which goods are bought and sold.

predatory pricing

government intervention

market power

market failure

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is a market structure in which one seller controls a market for a product or service without competition from other sellers.

monopolistic competition

oligopoly

price discrimination

monopoly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a characteristic of a perfect competition?

price taker

barriers to entry and exit

many and small firms

perfect information

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It refers to a situation when firms or economies produce maximum output at the lowest possible cost. 

productive efficiency

allocative efficiency

market equilibrium

economies of scale

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This occurs where the marginal social cost of producing a good is equal to the marginal social benefit of the good to society. In different words, it occurs where the marginal cost of producing a good (including any external costs) is equal to the price that is charged to consumers.

productive efficiency

allocative efficiency

market equilibrium

socially optimum output

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?