Search Header Logo

Tut 1: macro

Authored by Trần Thị Ly

English

University

Used 3+ times

Tut 1: macro
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

18 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The English word that comes from a Greek word which means “ one who manages a household” is

market

producer

consumer

economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In considering how to allocate its scarce resources among its various members, a household considers

each member’s abilities

each member’s efforts.

each member’s desires

all of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics deals primarily with the concept of

scarcity

money

poverty

banking

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is correct?

The word economy comes from the Greek word for “rational thinker.”

Economists study the management of scarce resources.

Because economists believe that people pursue their best interests, they are not interested in how people interact.

All of the above are correct.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The overriding reason why households and societies face many decisions is that

  1. resources are scarce.

goods and services are not scarce.

  1. incomes fluctuate with business cycles. 

people, by nature, tend to disagree.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The phenomenon of scarcity stems from the fact that

most economies’ production methods are not very good.

in most economies, wealthy people consume disproportionate quantities of goods and services.

governments restrict production of too many goods and services.

resources are limited.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is the study of

production methods.

how society manages its scarce resources.

how households decide who performs which tasks.

the interaction of business and government.

Access all questions and much more by creating a free account

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?