Econ Review
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Social Studies
12th Grade
GA covered
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14 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best illustrates marginal benefit exceeding marginal cost?
A company lays off workers to reduce expenses
A consumer avoids purchasing an expensive product on sale.
A student studies for an extra hour because it improves their test score
A city cancels a public project due to high expenses.
Tags
GA.SSEF1.c.
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is an example of a positive incentive for businesses?
A government subsidy for producing renewable energy
A tax increase on profits
A regulation limiting business operations
A fine for failing to meet production quotas
Tags
GA.SSEF1.c.
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
How do individuals, businesses, and governments make rational decisions?
By avoiding any risks
By responding only to positive incentives
By choosing the action with the highest cost
By comparing marginal benefits and marginal costs
Tags
GA.SSEF1.d.
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the primary reason that choices must be made in economics?
Resources are unlimited
Wants are limited
Prices are fixed
Resources are scarce
Tags
GA.SSEF1.a.
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is the opportunity cost of attending college instead of working full-time immediately after high school?
The wages you could have earned by working full-time
The cost of tuition and books
The time spent in class instead of leisure activities
The value of your education
Tags
GA.SSEF1.d.
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which is an example of a natural resource (land)?
A factory used for manufacturing goods
A river used to generate hydroelectric power
A truck delivering products
A person working as a teacher
Tags
GA.SSEF1.b.
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
What is NOT a characteristic of a good Entrepreneur?
Self-Awareness
Long-Term Focus
Risk Tolerance
Disinterest
Tags
GA.SSEF1.c.
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