Quiz 01

Quiz 01

University

5 Qs

quiz-placeholder

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Quiz 01

Quiz 01

Assessment

Quiz

Social Studies

University

Hard

Created by

Dr. Goswami

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 2 pts

Opportunity costs is MOST RELATED which concept? 

price floors

scarcity 

 elasticity

absolute advantage

2.

MULTIPLE CHOICE QUESTION

10 sec • 2 pts

Competition and free enterprise are most common in which type of economic system? 

traditional

market

communist

planned

3.

MULTIPLE CHOICE QUESTION

10 sec • 2 pts

What is quantity of a good or service that producers sell at a market price?

supply

demand

law of demand

law of supply

4.

MULTIPLE CHOICE QUESTION

10 sec • 2 pts

Media Image

What type of income elasticity of demand does this image show:

High elastic

Low elastic

Zero elastic

Negative elastic

5.

MULTIPLE CHOICE QUESTION

10 sec • 2 pts

What is the main economic problem faced by the society?

Unemployment

Poverty

Scarcity

Inequality