Microeconomics

Microeconomics

University

124 Qs

quiz-placeholder

Similar activities

Sir Jom_Module 3

Sir Jom_Module 3

University

122 Qs

Quiz Before UAS - Kisi kisi Teori Akuntansi Hybrid

Quiz Before UAS - Kisi kisi Teori Akuntansi Hybrid

University

127 Qs

tcdn

tcdn

University

119 Qs

MESL - Engineering Economy

MESL - Engineering Economy

University

119 Qs

Microeconomics

Microeconomics

Assessment

Quiz

Business

University

Easy

Created by

Lilly McClelland

Used 2+ times

FREE Resource

124 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a recent article it was suggested that a new machine designed to pick strawberries in Florida could be faster and less expensive than human strawberry pickers. This is an example of what?

A change in the process used to produce strawberries

The substitution of relatively inexpensive capital for relatively expensive labor

A change in technology

All of these

None of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"The unemployment rate is 4.2%" is a what?

Normative statement

Positive statement

Rhetorical statement

None of these

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Chris eats lunch at a local restaurant by herself every day. One day friends offer to pay for Chris’s lunch if Chris join them uptown.  In this case Chris’s lunch is costless.  True or false?

False, Chris must give up having lunch by themself

False, the price of lunch is not a factor

True, the price of lunch is always important

True, Chris was going to have to pay for lunch otherwise

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is economics?

The study of the allocation of limited resources across unlimited wants

The allocation of limited wants across unlimited resources

The study of how to run a business

All of these

None of these

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Computers are capital. True or false?

True, computers are technology and capital is another form of resource

True, capital is a resource and computers are technology

False, technology is the same thing as computers

False, it is more efficient to use technology than capital as they are complements

None of these are correct

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of land?

Fish in the ocean

A dirt road

A dam on a river

All of these

None of these

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Farmer Avery and Farmer Brown have farms right next to one another. One raises wheat and the other raises dairy cows. This is an example of what?

Absolute advantage

Comparative advantage

Decreasing opportunity cost

Technological change

Create a free account and access millions of resources

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

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?