Microeconomics Quiz #1
Authored by Rocky tating
Business
12th Grade
Used 1+ times
AI Actions
Add similar questions
Adjust reading levels
Convert to real-world scenario
Translate activity
More...
Content View
Student View
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the study of production, distribution, and consumption of goods and services?
Economics
Macroeconomics
Microeconomics
Entrepreneurial Ability
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the potential loss from a missed opportunity?
Incentives
Opportunity Cost
Purposeful Behavior to increase Utility
Marginal Costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the change in total production cost that comes from making or producing one additional unit?
Marginal Costs
Marginal Benefits
Normative economics
Supply and Demand
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which economic statement involves value judgments?
Positive economics
Normative economics
Microeconomics
Macroeconomics
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the graphical delineation of all possible combinations of two commodities that can be bought with provided income?
The Consumer’s Budget Line
The Commodities Line
Attainable Combinations
Unattainable Combinations
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which system has a mix of freedom with some government control?
The Market System
The Command System
Specialization
Laissez-Faire Capitalism
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the flow of goods, services, and money in the circular flow model?
Households
Product Market
Resource Market
Businesses
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports
Continue with Google
Continue with Email
Continue with Classlink
Continue with Clever
or continue with
Microsoft
%20(1).png)
Apple
Others
Already have an account?
