FND - Learning Outcomes in Economics

What is one of the learning outcomes related to understanding economics?

• To know how to cook

• To know what economics is all about

• To know how to paint

• To know how to play an instrument

How should simple economic relationships be represented according to the learning outcomes?

• Graphically

• Musically

• Historically

• Verbally

What does "macro" mean in the context of economics?

• Small

• Big

• Simple

• Narrow

Which of the following is included in the goods and services needed to survive?

• Jewelry

• Shelter

• Luxury Cars

• Vacations

Which concept involves the interaction of supply and demand to determine prices?

• Opportunity Cost

• Price Mechanisms

• Scarcity

• Choice

According to Say's Law, what creates its own demand?

• Consumption

• Supply

• Government intervention

• Price adjustments

What is the origin of the term "micro" in microeconomics?

• Latin word "minimus"

• Greek word "mikros"

• French word "petit"

• Spanish word "pequeño"

Microeconomics typically studies markets where what occurs?

• Natural resources are discovered

• Goods or services are bought and sold

• Political debates are held

• Cultural exchanges take place

Which of the following is NOT typically studied in microeconomics?

• Trade

• Markets

• Global warming

• Labor unions

Which of the following is an example of a market in economics?

• The car market

• A shopping mall

• A city park

• A school