Economics Quiz

What is economics the study of?

• The study of human behavior

• The study of the production and consumption of scarce resources

• The study of environmental science

• The study of cultural benefits

What is the definition of supply in economics?

• The number of people willing to purchase a resource

• The amount of the resource available

• The cost of the resource

• The benefit of the resource

What is the definition of demand in economics?

• The amount of the resource available

• The number of people willing to purchase or use the resource

• The cost of the resource

• The benefit of the resource

What happens to the price when supply is low and demand is high?

• The price is high

• The price is low

• The price remains the same

• The price fluctuates

Which of the following is an example of cultural ecosystem services?

• Harvesting sea creatures for food

• Regulating air quality

• Providing recreational opportunities

• Making windbreaks

Which of the following is an example of regulating ecosystem services?

• Harvesting sea creatures for food

• Regulating air, soil, or water quality

• Providing recreational opportunities

• Making windbreaks

Which of the following is an example of supporting ecosystem services?

• Harvesting sea creatures for food

• Regulating air quality

• Providing recreational opportunities

• Making windbreaks

What must be evaluated as part of a cost-benefit analysis when an ecosystem will be disrupted?

• Cultural benefits

• Ecosystem services

• Human behavior

• Environmental decisions

What affects the cost-benefit analysis for making environmental decisions?

• Supply and demand

• Cultural benefits

• Human behavior

• Recreational opportunities

What are environmental policies?

• Guidelines for human behavior

• Rules put in place to regulate human activities on the environment

• Suggestions for environmental conservation

• Recommendations for industrial activities