Economics (Midterms) - ABM LC Intellegentia Merkados
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Other
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12th Grade
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Medium
Iza Hernaez
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the three basic economic concepts?
Scarcity, Choice, Microeconomics
Microeconomics and Macroeconomics
Scarcity, choice, and opportunity cost
Microeconomics, Macroeconomics, Production Possibilities Frontier (PPF)
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
What is a subset of economics that focuses on the smaller agents’ decisions and how they might react in certain situations?
3.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
______________ looks at economics at a broader perspective, looking at collectives rather than individual players in the market.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Economists recognize that human wants are limited.
True
False
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What refers to the limited availability of a resource, good, or service?
Choice
Opportunity Cost
Scarcity
Utility
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This economic question asks for whom the goods and services should be given.
What should we produce?
How should we produce it?
For whom should we produce it?
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Enumerate the Four Factors of Production in Economics (use comma to separate each factor)
[e.g. : gold, silver, bronze]
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