Econ Chapter 1
Authored by Dustin Waters
Financial Education
12th Grade
Used 41+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Davonte's boss informs him that the firm he works for is going to be promoting someone to the position of Vice President sometime in the next six months. Davonte wants the job, so he works as hard as he can to impress his boss and bring in profits for the company. Davonte is motivated by a
rational decision
negative incentive
positive incentive
list of alternatives
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Robert decides to go on a backpacking trip in Alaska. In order to go on this trip, he has to give up $600 and a week's worth of vacation time. These are examples of what?
opportunity costs
production possibilities
growth
trade-offs
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
The people who work in a law firm all want new computers. Which statement BEST represents their winning statement for buying new equipment?
Our equipment is old and outdated
We know where we can get a good sale price
We are willing to give up our new office chairs and desks as a trade-off.
The marginal benefits of better computers outweigh the marginal costs of purchasing them.
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
What do bonuses, promotions, and profit-sharing have in common?
They all involve fines
They are all financial incentives
They are incentives that do not work with most people.
They are incentives practiced by government.
5.
OPEN ENDED QUESTION
5 mins • 1 pt
Leah loves both band and chorus in middle school. She also wants to play lacrosse. Practces for all three activities are held on the same days. Her parents tell her she can do only one activity. If she chooses band, what is her opportunity cost?
Evaluate responses using AI:
OFF
6.
OPEN ENDED QUESTION
5 mins • 1 pt
What is Leah's trade-off?
Evaluate responses using AI:
OFF
7.
MULTIPLE CHOICE QUESTION
5 sec • 1 pt
The Swiss family loves TV. They have just bought a TV in the living room, dining room, kitchen, and each of their three bedrooms and two bathrooms. At which TV purchase does the Law of Diminishing Marginal Utility kick in for them?
TV #2
TV #5
TV #8
TV #9
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Microsoft
or continue with
%20(1).png)
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?
