Scarcity & Opportunity Cost

Scarcity & Opportunity Cost

12th Grade

20 Qs

quiz-placeholder

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Scarcity & Opportunity Cost

Scarcity & Opportunity Cost

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

JenniferRoma1 undefined

Used 2+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a focus of economics?

Literature

Choices

Art

Music

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many types of incentives are there?

Two

Three

Four

Five

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the phrase "even if that action seems to be 'free'" suggest about perceived costs?

Perceived costs are always accurate

Perceived costs are often misleading

Perceived costs are irrelevant

Perceived costs are always zero

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does the US military spending compare to other nations?

It is less than the next seven nations combined

It is equal to the next seven nations combined

It is more than the next seven nations combined

It is the same as one other nation

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does PPC stand for in economics?

Production Possibilities Curve

Product Price Calculation

Profit Percentage Chart

Production Planning Committee

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not a factor of production?

Land

Labor

Capital

Technology

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary benefit of Human Capital?

Increases physical assets

Enhances worker efficiency and innovation

Provides financial resources

Supplies raw materials

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