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WorksheetsEcon 1.9
Total questions: 11
Worksheet time: 13mins
What does point B represent?
Production at greater than the country's minimum potential
Production is less than the country's minimum potential
Production is greater than the country's maximum potential
Production at the country's maximum potential
The following diagram shows the production possibility frontier for an economy that produces bread and honey.
If the economy is initially at point W, then the opportunity cost of moving to point X is
6 units of honey.
8 units of honey.
12 units of bread.
23 units of bread.
The table shows the production possibilities for a country. Based on the table, which of the following production combinations is a possibility?
5 pairs of shoes and 28 pizzas
3 pairs of shoes and 23 pizzas
2 pairs of shoes and 20 pizzas
4 pairs of shoes and 15 pizzas
What does a point inside the production possibilities curve indicate?
Unattainable combination
Economic growth
Underutilization of resources
Efficiency
What does a bowed out production possibilities curve indicate?
No opportunity cost
Constant opportunity cost
Increasing opportunity cost
Decreasing opportunity cost
What does a straight line production possibilities curve indicate?
Constant opportunity cost
Increasing opportunity cost
Decreasing opportunity cost
No opportunity cost
What causes the production possibilities curve to shift?
No change in resources
Decrease in resources
Increase in resources
Decrease in technology
