Incentives are ______________
7 Principles of Economics

Quiz
•
Social Studies
•
9th - 12th Grade
•
Medium
Victoria Faculty
Used 66+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A set of external motivators that help people make choices.
Whatever you are giving up to do something.
The tension caused by infinite wants and finite resources.
The study of production, employment, prices, and policies on a nationwide scale
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an INCENTIVE?
Wages for labor at a construction job sit
Passing a certification exam as a job requirement
Buying a candy bar during break
A college receiving monetary bonuses for a high graduation rate
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost can be defined as:
The amount of money you paid for something
The HIGHEST valued alternative that you give up for a good (the next best thing)
The cost of giving up everything to obtain a good
The LOWEST valued alternative that you give up for a good (the bad decisions)
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Economic decision to use one more additional unit of a resource
Thinking at the Margin
Incentives Matter
Trade Makes People Better Off
Future Consequences Count
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
I only have an hour of free time today. If I study, I can't see my friends.
Costs versus Benefits
Thinking at the margin
Incentives Matter
Future Consequences Count
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
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