Economics Final- 2025

The economy can produce at which point or points?

• B,D,E
• A,B,D,E
• D,C
• D

Which point represents the maximum possible production of tubas?

• A
• B
• D
• E

The opportunity cost to the economy of getting 30 additional toothbrushes by moving from point A to point D is

• 10 toasters
• 15 toasters
• 20 toasters
• 25 toasters

The opportunity cost in terms of toothbrushes of getting 10 additional toasters by moving from point B to point A is

• 10 toothbrushes
• 20 toothbrushes
• 5 toothbrushes
• zero, since the economy has the additional resources to produce 10 additional toasters

Copy Machine

• Land
• Labor
• Capital
• Entrepreneur

Mrs. Parker

• Land
• Labor
• Capital
• Entrepreneur

Forklift

• Land
• Labor
• Capital
• Entrepreneur

River

• Land
• Labor
• Capital
• Entrepreneur

What are two things that a command economy fails to provide consumers?

• variety of goods and responsive prices
• jobs and private property
• equity and consumer choice
• profit motive and consumer choice

Based on the circular flow model, what are the two sectors?

• government and households
• households and businesses
• businesses and government
• none of the above