AppEcon Lesson 1
Authored by Marione Fauni
Business
11th Grade
Used 2+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the study of how people make choices using limited resources to satisfy wants and needs called?
Sociology
Economics
Psychology
Anthropology
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which branch of economics deals with small decisions, such as how you spend your allowance?
Macroeconomics
Microeconomics
Behavioral Economics
International Economics
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which branch of economics involves big decisions, such as how the government runs the economy?
Microeconomics
Macroeconomics
Development Economics
Environmental Economics
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for choosing what makes the most sense in economic decision-making?
Alternative Choice
Rational Choice
Trade-off
Opportunity Cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for having other options in economic decision-making?
Rational Choice
Alternative Choice
Trade-off
Sunk Cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for giving up one thing to get another in economics?
Opportunity Cost
Sunk Cost
Trade-off
Rational Choice
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the next best thing you gave up in an economic decision?
Sunk Cost
Trade-off
Opportunity Cost
Rational Choice
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