
Marginal Analysis, Roller Coasters, Elasticity, and Van Gogh
Authored by Cynthia Elm
Social Studies
9th - 12th Grade
Used 5+ times

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10 questions
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1.
FILL IN THE BLANK QUESTION
15 mins • 1 pt
__________ analysis is an analysis of how individuals, businesses, and governments make decisions.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What do we call the satisfaction, or happiness, that people get from consuming a good or service?
utility
joy factor
positive economics
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Marginal analysis is one way to explain consumer behavior.
True
False
4.
FILL IN THE BLANK QUESTION
15 mins • 1 pt
The Law of ________ states that the increase in price gives producers and incentive to produce more.
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The reason why diamonds are more expensive than water is because ...
the marginal utility of water is low.
the marginal utility of water is high.
there are more diamonds than water.
the marginal utility of diamonds is low.
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Utility is subjective.
True
False
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Elasticity shows how sensitive quantity is to a change in price.
True
False
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