Crash Course-Intro to Economics Quizizz

According to Alfred Marshall, what is economics a study of?

• Money, wealth, and the stock market

• Men, women, and their savings

• the ordinary business of life and how someone gets income and spends it

• The stock market and wealth growth

True or false: Not everything has a cost.

• True

• False

What is the main focus of economics according to the host?

• Analyzing people & their choices

• How people make money

• Measuring unemployment

• Studying the overall economy

What is the role of politics in economics?

• To show only one side of the argument

• To create flawed policies

• To push a political agenda

• To guide public policy using economic theory

What is the main assumption in economics regarding resources?

• Resources have no cost

• Resources are evenly distributed

• Resources are unlimited

• Resources are scarce

True or false: Opportunity cost is the value of the next best alternative.

• True

• False

What is the incentive for universities to focus on student completion rather than enrollment and success?

• To admit only high-scoring students

• To increase marketing budgets

• To improve student success

• To receive more funding

What is the opportunity cost of military spending according to Dwight D. Eisenhower?

• The money spent on military equipment

• The loss of labor and scientists

• The resources are not being used for social services

• The cost of building aircraft carriers

What is the main difference between macroeconomics and microeconomics?

• Macroeconomics deals with scarcity, while microeconomics deals with unlimited resources

• Macroeconomics focuses on government policies, while microeconomics focuses on individual behavior

• Macroeconomics studies individual choices, while microeconomics studies the overall economy

• Macroeconomics looks at the economy as a whole, while microeconomics looks at specific economic units

True or false: Scarcity is having unlimited wants with limited resources.

• True

• False