Question 1 The basic concern of microeconomics is: a) to use limited resources to produce goods and services to satisfy
Posted: Fri Jul 01, 2022 8:14 am
Question 1
The basic concern of microeconomics is:
a)
to use limited resources to produce goods and services tosatisfy limited wants.
b)
to keep businesses from losing money.
c)
to study the choices that people make.
d)
to prove that capitalism is better than socialism.
Question 2
If two points on a graph are the ordered pairs (2, 8) and (3,10), then which of the following statementsis false?
Question 2 options:
a)
If the two points are connected with a straight line, that linewill slope upward.
b)
The slope of the line equals +2.
c)
The change in the horizontal value is greater than the change inthe vertical value.
d)
There is a positive (or direct) relationship between the twovariables measured on the graph.
Question 3
Imagine that two goods are produced in afactory: masks and gloves. Assume thatthe opportunity costs are constant and masks are measured on thehorizontal axis of a graph. If the slope of the PPF equalsnegative 3, then the opportunity cost of one more mask is the lossof three pairs of gloves.
Question 3 options:
Question 4 options:
When a chef creates a dinner plate of food for a customer, whichof the following represents the "capital" resource?
a)
the oven
b)
the money spent on dinner by the customer
c)
the chef himself (or herself)
d)
the chef's training and experience
e)
the food ingredients
Question 5
An example of (physical) capital is money.
Question 5 options:
The basic concern of microeconomics is:
a)
to use limited resources to produce goods and services tosatisfy limited wants.
b)
to keep businesses from losing money.
c)
to study the choices that people make.
d)
to prove that capitalism is better than socialism.
Question 2
If two points on a graph are the ordered pairs (2, 8) and (3,10), then which of the following statementsis false?
Question 2 options:
a)
If the two points are connected with a straight line, that linewill slope upward.
b)
The slope of the line equals +2.
c)
The change in the horizontal value is greater than the change inthe vertical value.
d)
There is a positive (or direct) relationship between the twovariables measured on the graph.
Question 3
Imagine that two goods are produced in afactory: masks and gloves. Assume thatthe opportunity costs are constant and masks are measured on thehorizontal axis of a graph. If the slope of the PPF equalsnegative 3, then the opportunity cost of one more mask is the lossof three pairs of gloves.
Question 3 options:
Question 4 options:
When a chef creates a dinner plate of food for a customer, whichof the following represents the "capital" resource?
a)
the oven
b)
the money spent on dinner by the customer
c)
the chef himself (or herself)
d)
the chef's training and experience
e)
the food ingredients
Question 5
An example of (physical) capital is money.
Question 5 options: