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Basic Microeconomics

Authored by Leo Atienza

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University

Used 3+ times

Basic Microeconomics
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9 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the branch of knowledge concerned with the production, consumption and transfer of wealth.

TRUE

FALSE

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is unlimited. It varies from the needs for survival otherwise known as basic needs to higher needs for a comfortable and more meaningful life.

TRUE

FALSE

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Human Wants shows how resources are used and combined in production.

TRUE

FALSE

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Marginal Analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by the same activity

TRUE

FALSE

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economic System is not an economic problem.

TRUE

FALSE

6.

OPEN ENDED QUESTION

3 mins • Ungraded

5 pts. Explain the difference between Microeconomics and Macroeconomics.

Evaluate responses using AI:

OFF

7.

OPEN ENDED QUESTION

3 mins • Ungraded

5 pts. How unemployment considered as one of the economic problems?

Evaluate responses using AI:

OFF

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