Opportunity costs is MOST RELATED which concept?
Quiz 01

Quiz
•
Social Studies
•
University
•
Hard
Dr. Goswami
FREE Resource
5 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
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
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
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