Economics Final Exam Review

Matching: Write only the correct letter to the corresponding question in the space provided next to each question.

People and nations must make decisions about resources.

• A. impossible

• B. production possibilities frontier

• C. scarcity

• D. trade-off

• E. underutilization

This is the alternative given up when something else is chosen.

• impossible

• production possibilities frontier

• scarcity

• trade-off

• underutilization

What does the letter A represent in the graph?

• impossible

• production possibilities frontier

• scarcity

• trade-off

• underutilization

What does the letter X represent on the graph?

• A. impossible

• B. production possibilities frontier

• C. scarcity

• D. trade-off

• E. underutilization

What is the line of this graph called?

• impossible

• production possibilities curve

• scarcity

• trade-off

• underutilization

Supply

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• 
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• 
• 

Charts and Graphs (Matching): Write only the correct letter to the corresponding question in the space provided next to each question.

• Supply

• Demand

• Equilibrium

• Price

• Disequilibrium

Equilibrium

• 
• 
• 
• 
• 

What does the p represent?

• Productivity

• Probability

• Problems

• Price

• Power

Likely result after a product was featured in a blockbuster movie.

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