S2W8

S2W8

8th Grade

12 Qs

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S2W8

S2W8

Assessment

Quiz

World Languages

8th Grade

Practice Problem

Medium

Created by

EconPALS Committee

Used 4+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Consider Doc Hudson is looking for tyres, which has a demand curve t = 12 - 2L and a supply curve t = 4L. How many tyres will Doc Hudson purchase and what will it cost him?

Purchase 2 tyres, pay £8/tyre

Purcahse 4 tyres, pay £6/tyre

Purchase 6 tyres, pay £4/tyre

Purchase 8 tyres, pay £2/tyre

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You're considering purchasing a special type of fuel. One fuel costs £5 and lasts for 1 month, while another, priced at £7, lasts for 2 months. Which option offers the better deal considering both price and duration?

£5 for 1 month

£7 for 1 month

£5 for 2 months

£7 for 2 months

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You're Lightning McQueen, and you've inherited £600,000. You're torn between two investment options: purchasing a whimsical new car coat (cost £6000) or investing in a government bonds, which option should you choose?

Purchase new car coat

Invest in government bonds

Purchase the car coat but invest half of the remaining cash in shares

Invest half of the cash in shares and keep the rest for emergencies

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You are building guest pit stops at a racing resort, and you need to choose whether to construct your pits out of piston steel, alloy, or carbon fiber. They differ only in terms of durability and cost

Carbon Fiber: £2,500 (10% depreciation)

Alloy: £1,000 (15% depreciation)

Piston Steel: £2,000 (20% depreciation)

If the interest rate is 5%, which type of pit stop should you buy?

Alloy

Piston Steel

Carbon Fiber

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Sally owns Cozy Cones Motel in Radiator springs. She would rather leave a room in the motel empty than let someone stay in it for £50. If she can get £150 for the room how much is the economic rent?

6.

OPEN ENDED QUESTION

3 mins • 1 pt

It is important that Doc Hudson teach Lightning about economics to develop his racing strategy.
Please help Doc explain the definition of real capital

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

Now help Doc Hudson explain the definition of financial capital

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OFF

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