Review Unit 2 Concept 1

Review Unit 2 Concept 1

20 Qs

quiz-placeholder

Similar activities

Kwéyòl Review Assessment

Kwéyòl Review Assessment

KG - University

19 Qs

Writing good introduction for data-based charts

Writing good introduction for data-based charts

9th Grade

15 Qs

Tes Training 12 (SWM)

Tes Training 12 (SWM)

Professional Development

19 Qs

Chapter 7

Chapter 7

KG - University

15 Qs

Review Unit 2 Concept 1

Review Unit 2 Concept 1

Assessment

Quiz

others

Practice Problem

Hard

Created by

Shirley Earls

Used 3+ times

FREE Resource

AI

Enhance your content in a minute

Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The study of __________________ traditionally assumes that individuals, businesses, and governments behave rationally when faced with choices.

finances
supply and demand
goods and services
economics

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In economic terms, a ____________ _______________ is made when the marginal benefit of an action is greater than or equal to the marginal cost.

opportunity cost
rational decision
positive incentive
negative incentive

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

________________ in economics means per unit, incremental, or small changes.

marginal
utility
incentive
invisible hand

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

________________ is the total satisfaction gained from consuming/using a good or service.

marginal
utility
incentive
invisible hand

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

The interaction of market forces, in which buyers and sellers are motivated by self-interest, is called the ______________.

marginal
utility
incentive
invisible hand

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

_____________ _______________ is the change in total benefit received from one more unit; the change in total cost paid for one more unit is the ________________ __________.

marginal cost; marginal benefit
opportunity cost; marginal benefit
marginal benefit; opportunity cost
marginal benefit; marginal cost

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

This is the point where the total profit is maximized, and the person is getting the most out of the situation at the given moment....

marginal benefit
opportunity cost
profit-maximizing rule
Law of Diminishing Marginal Utility

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?