In the hypothetical universe, what do both the farmer and the builder start with?

Economic Concepts in a Hypothetical Universe

Interactive Video
•
Business, Economics, Social Studies
•
9th - 12th Grade
•
Hard

Olivia Brooks
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A large amount of physical currency
A small amount of physical currency
No physical currency
Only digital currency
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the farmer's initial approach to business with the builder?
He decides not to engage in any business
He only wants the base level of services
He offers more than usual for services
He wants to invest heavily in construction
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does the builder respond to the farmer's initial offer?
He offers a discount
He demands more coins
He agrees but feels pessimistic
He refuses to work for just one coin
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens when the money supply increases unexpectedly?
Both the farmer and builder become optimistic
Prices rise sharply
The farmer and builder continue to feel pessimistic
The economy booms immediately
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Despite finding more gold, why does the farmer remain cautious?
He thinks the discovery was a one-time event
He believes the gold will soon disappear
He plans to invest in new ventures
He wants to save for future generations
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What economic phenomenon occurs despite an increase in the money supply?
Inflation
Deflation
Stagflation
Hyperinflation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the builder's reaction to the reduced spending by the farmer?
He seeks new customers
He lowers his prices
He stops offering services
He raises his prices
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