lesson 1.1 Warm Up
Quiz
•
Social Studies
•
12th Grade
•
Practice Problem
•
Medium
Drew Maffei
Used 2+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the amount a BUYER (or consumer) pays for a good service; what you see on the sticker.
Price
Cost
Trade-off
Marginal Analysis
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that society has unlimited wants with limited productive resources to obtain those wants.
Scarcity
Macroeconomics
Microeconomics
Marginal Analysis
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You buy a delicious brownie and eat the heck out of it. You go back to buy a second and, while it is still delicious, you are getting fuller and not really enjoying it as much as the first time. Because you have a big back soul, you go and grab a third brownie and promptly throw up everywhere. What economic concept have you just demonstrated?
Decreasing marginal utility
Increasing marginal utility
Opportunity Costs
Trade-offs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
These are good created for everyday people like you and me; TVs, iPhones, Nikes, video games, etc.
Consumer goods
Capital goods
Allocated goods
Marginal goods.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The idea that we make choices based on logical outcomes by weighing the cost/benefit of any decision.
Rational decision making
Marginal decision making
Microeconomics
Macroeconomics
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of economics on a large scale; international trade, fiscal and monetary policy, inflation. it is BIG picture stuff.
Macroeconomics
Microeconomics
Marginal Analysis
Opportunity costs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Are mosquitoes scarce?
No; they are neither limited nor desirable.
No; they are limited but not desirable
No; they are not limited but are desirable
Yes; they are both limited and desirable
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