P
PIMPIN DAN
Guest
1. What is the opportunity cost of a decision? (1 point)
the series of alternative decisions that could have been made
the best possible way the question could have been decided
the different ways that a different person might have made the decision
the most desirable alternative given up for the decision
2. What is the purpose of competition? (1 point)
to act as a regulating force in the marketplace
to cause producers to attempt to put each other out of business
to cause buyers to have to be careful about spending their money
to act as a motivating force behind the free market
3. What incentive motivates a manufacturer to sell a product? (1 point)
making profits on sales
putting others out of business
pleasing the consumer
popularity of the product
4. All of the following are types of decisions that can be made at the margin EXCEPT (1 point)
whether to grow beans or corn on a large farm.
whether or not to hire 100 new workers.
whether to leave early in the morning or late in the day for a trip.
whether or not to go on a vacation.
5. Which of the following is a critical rule for determining whether something is a public good? (1 point)
The benefit to each individual who uses the facility is greater than the cost.
The benefits of the facility are greater for the society than for the individuals using it.
The total benefits to society are greater than the total cost.
The total cost is small for each individual taxpayer.
6. What best describes the role of government in a free enterprise system?
(1 point)
Control business activities.
Decide what companies will be formed and then allow the managers to run them.
Allow individuals to operate their businesses in ways they think will maximize their profits.
Require companies to disclose information to consumers.
7. The government of a country must make a decision between increasing military spending and subsidizing wheat farmers. This kind of decision is a (1 point)
guns or butter issue.
decision at the margin.
global trade-off.
basic economic decision.
8. What is one benefit provided by Social Security? (1 point)
medical care for the indigent
cash transfers to workers injured on the job
compensation for all who lose jobs
retirement income for the elderly
9. The resources used to make all goods and services are the (1 point)
production possibilities.
factors of production.
production trade-offs.
opportunity costs.
10. What is positive externality? (1 point)
a way to generate trade that will benefit people who are from other countries
an economic side effect that generates unexpected benefits
a cash flow that will benefit both the government and the businesses who interact with it
an extra payment to welfare recipients
11. What is a factory building an example of? (1 point)
human capital
physical capital
an economic trade-off
technology
12. Which of the following is NOT a key economic question? (1 point)
What goods and services should be produced?
How should these goods and services be produced?
Who consumes these goods and services?
How should it be ensured that goods and services are paid for?
13. Production possibilities frontiers curve when they are charted on a graph because they show (1 point)
the underutilization of resources.
the maximum output of goods and services.
the increasing costs resulting in increasingly less output.
the technological level of the economy's productivity.
14. Which of the following is NOT characteristic of a centrally planned economy? (1 point)
The central government owns all land and capital.
The central government makes all economic decisions.
Each collective or factory sets its own goals.
Each person is assigned a job.
15. Which of the following is NOT an example of a public good? (1 point)
shopping malls
national parks
highways
municipal libraries
16. What does the process of specialization do for an economy? (1 point)
It makes it more efficient.
It eliminates unemployment.
It fosters competition.
It makes it easier to control.
17. What is the function of an economic system? (1 point)
to make sure all people have equal access to goods
to produce and distribute goods and services
to give all producers the same access to consumers
to make sure people are paid for their labor
18. What is the struggle among various producers for the consumer's business called? (1 point)
socialism
competition
incentive
self-regulation
19. Why does even a free market economy need some government intervention? (1 point)
to provide for things that the marketplace does not address
to ensure that the government has the freedom to tax as necessary
to make sure that the government can fulfill its needs for military personnel
so that the government has some control over factory resources
20. Who decided what the farmers would produce on Soviet collectives? (1 point)
the farmers
the military
the governmen
if you know any answers, that will help. thankyou
the series of alternative decisions that could have been made
the best possible way the question could have been decided
the different ways that a different person might have made the decision
the most desirable alternative given up for the decision
2. What is the purpose of competition? (1 point)
to act as a regulating force in the marketplace
to cause producers to attempt to put each other out of business
to cause buyers to have to be careful about spending their money
to act as a motivating force behind the free market
3. What incentive motivates a manufacturer to sell a product? (1 point)
making profits on sales
putting others out of business
pleasing the consumer
popularity of the product
4. All of the following are types of decisions that can be made at the margin EXCEPT (1 point)
whether to grow beans or corn on a large farm.
whether or not to hire 100 new workers.
whether to leave early in the morning or late in the day for a trip.
whether or not to go on a vacation.
5. Which of the following is a critical rule for determining whether something is a public good? (1 point)
The benefit to each individual who uses the facility is greater than the cost.
The benefits of the facility are greater for the society than for the individuals using it.
The total benefits to society are greater than the total cost.
The total cost is small for each individual taxpayer.
6. What best describes the role of government in a free enterprise system?
(1 point)
Control business activities.
Decide what companies will be formed and then allow the managers to run them.
Allow individuals to operate their businesses in ways they think will maximize their profits.
Require companies to disclose information to consumers.
7. The government of a country must make a decision between increasing military spending and subsidizing wheat farmers. This kind of decision is a (1 point)
guns or butter issue.
decision at the margin.
global trade-off.
basic economic decision.
8. What is one benefit provided by Social Security? (1 point)
medical care for the indigent
cash transfers to workers injured on the job
compensation for all who lose jobs
retirement income for the elderly
9. The resources used to make all goods and services are the (1 point)
production possibilities.
factors of production.
production trade-offs.
opportunity costs.
10. What is positive externality? (1 point)
a way to generate trade that will benefit people who are from other countries
an economic side effect that generates unexpected benefits
a cash flow that will benefit both the government and the businesses who interact with it
an extra payment to welfare recipients
11. What is a factory building an example of? (1 point)
human capital
physical capital
an economic trade-off
technology
12. Which of the following is NOT a key economic question? (1 point)
What goods and services should be produced?
How should these goods and services be produced?
Who consumes these goods and services?
How should it be ensured that goods and services are paid for?
13. Production possibilities frontiers curve when they are charted on a graph because they show (1 point)
the underutilization of resources.
the maximum output of goods and services.
the increasing costs resulting in increasingly less output.
the technological level of the economy's productivity.
14. Which of the following is NOT characteristic of a centrally planned economy? (1 point)
The central government owns all land and capital.
The central government makes all economic decisions.
Each collective or factory sets its own goals.
Each person is assigned a job.
15. Which of the following is NOT an example of a public good? (1 point)
shopping malls
national parks
highways
municipal libraries
16. What does the process of specialization do for an economy? (1 point)
It makes it more efficient.
It eliminates unemployment.
It fosters competition.
It makes it easier to control.
17. What is the function of an economic system? (1 point)
to make sure all people have equal access to goods
to produce and distribute goods and services
to give all producers the same access to consumers
to make sure people are paid for their labor
18. What is the struggle among various producers for the consumer's business called? (1 point)
socialism
competition
incentive
self-regulation
19. Why does even a free market economy need some government intervention? (1 point)
to provide for things that the marketplace does not address
to ensure that the government has the freedom to tax as necessary
to make sure that the government can fulfill its needs for military personnel
so that the government has some control over factory resources
20. Who decided what the farmers would produce on Soviet collectives? (1 point)
the farmers
the military
the governmen
if you know any answers, that will help. thankyou