What is the opportunity cost of choosing to spend an evening studying for an exam instead of going out with friends?
Fundamentals Review

Quiz
•
Social Studies
•
12th Grade
•
Medium
Brian White
Used 11+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The cost of the study materials
The time spent studying
The enjoyment and social interaction missed with friends
The energy used to study
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following scenarios best illustrates a rational decision?
Buying a car without comparing prices
Choosing a job with lower pay but better work-life balance
Investing in a company without researching its financial health
Spending all savings on a vacation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Evaluate how a command economy prioritizes economic goals compared to a market economy.
Command economies prioritize efficiency over equity
Market economies prioritize price stability over growth
Command economies prioritize security and equity over freedom
Market economies prioritize full employment over sustainability
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a role of government in a mixed economy?
Providing all goods and services
Redistributing income through taxation
Eliminating all market competition
Setting prices for all products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does investing in education contribute to a higher standard of living?
It increases the number of available jobs
It leads to higher productivity and income
It reduces the cost of healthcare
It guarantees job security
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain how specialization benefits businesses in a global economy.
It reduces the need for trade
It allows businesses to produce goods at a lower cost
It limits the variety of products available
It increases the complexity of production processes
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary benefit of voluntary, non-fraudulent trade for individuals?
It increases the variety of goods and services available
It reduces the need for government regulation
It guarantees lower prices for all products
It eliminates the risk of market failures
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