

Economics Unit One Quiz
Interactive Video
•
Business
•
9th - 10th Grade
•
Practice Problem
•
Hard
Jennifer Brown
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of the quiz preparation in this video?
None of the above
Answers to the exam questions
Types of questions on the exam
Exact questions on the exam
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the fundamental concept that this economics course revolves around?
Opportunity cost
Supply and demand
Scarcity
Comparative advantage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does a point inside the production possibilities curve indicate?
Full employment
Unemployment
Economic growth
Inflation
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is opportunity cost represented on the production possibilities curve?
By drawing a new curve
By moving along the curve
By shifting the curve
By calculating total output
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the opportunity cost of moving from point B to C on the production possibilities curve?
1 capital good
10 capital goods
1 consumer good
10 consumer goods
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is easier to identify: absolute advantage or comparative advantage?
Neither is easy
Absolute advantage
Both are equally easy
Comparative advantage
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If Bill can mow six lawns and Sam can mow five, who has the absolute advantage?
Sam
Bill
Both have the same advantage
Neither has an advantage
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