Which phrase best defines scarcity?
(1 point)
Responses
a state in which productive resources are not enough to create a given good or service
a state in which human wants are greater than the resources available to fill those wants
a state in which too few choices exist for a consumer to fulfill needs and wants
a state in which the opportunity costs of a given choice are less than the benefits of a given choice
21 answers
a state in which human wants are greater than the resources available to fill those wants
How are capital resources used in production?
(1 point)
Responses
They allow producers better access to world markets.
They allow producers better access to world markets.
They provide tools that make production more efficient.
They provide tools that make production more efficient.
They make it possible to employ more skilled laborers.
They make it possible to employ more skilled laborers.
They purchase the raw materials needed for production.
They purchase the raw materials needed for production.
(1 point)
Responses
They allow producers better access to world markets.
They allow producers better access to world markets.
They provide tools that make production more efficient.
They provide tools that make production more efficient.
They make it possible to employ more skilled laborers.
They make it possible to employ more skilled laborers.
They purchase the raw materials needed for production.
They purchase the raw materials needed for production.
They provide tools that make production more efficient.
Which of these is the most likely opportunity cost of choosing to play a board game rather than going to the movies?
(1 point)
Responses
being able to visit with friends
being able to visit with friends
spending money on the board game
spending money on the board game
being able to see a new movie
being able to see a new movie
spending money on the movie tickets
spending money on the movie tickets
(1 point)
Responses
being able to visit with friends
being able to visit with friends
spending money on the board game
spending money on the board game
being able to see a new movie
being able to see a new movie
spending money on the movie tickets
spending money on the movie tickets
being able to see a new movie
Kevin decides to go straight to work after high school instead of going to college. What is the most likely long-term consequence of his decision?
(1 point)
Responses
changing jobs often
changing jobs often
having lots of debt
having lots of debt
making less money
making less money
not finding work
not finding work
(1 point)
Responses
changing jobs often
changing jobs often
having lots of debt
having lots of debt
making less money
making less money
not finding work
not finding work
making less money
Which of the following is one of the three basic economic questions?
(1 point)
Responses
For whom to produce
For whom to produce
How many units to produce.
How many units to produce.
Which resources to use to produce?
Which resources to use to produce?
Which types of production are most important?
Which types of production are most important?
(1 point)
Responses
For whom to produce
For whom to produce
How many units to produce.
How many units to produce.
Which resources to use to produce?
Which resources to use to produce?
Which types of production are most important?
Which types of production are most important?
For whom to produce
What would an economist expect if the negative incentives for bad behavior in a school became stricter?
(1 point)
Responses
Students would be less likely to break the rules, because the expectations are clearer.
Students would be less likely to break the rules, because the expectations are clearer.
Students would be less likely to break the rules, because punishments have become worse.
Students would be less likely to break the rules, because punishments have become worse.
Students would be more likely to break the rules, because more rules are available to break.
Students would be more likely to break the rules, because more rules are available to break.
Students would be more likely to break the rules, because the feelings of excitement are higher.
(1 point)
Responses
Students would be less likely to break the rules, because the expectations are clearer.
Students would be less likely to break the rules, because the expectations are clearer.
Students would be less likely to break the rules, because punishments have become worse.
Students would be less likely to break the rules, because punishments have become worse.
Students would be more likely to break the rules, because more rules are available to break.
Students would be more likely to break the rules, because more rules are available to break.
Students would be more likely to break the rules, because the feelings of excitement are higher.
Students would be less likely to break the rules, because punishments have become worse.
How does free trade affect the United States? Select all that apply.
(1 point)
Responses
lower prices
lower prices
decreased wages
decreased wages
higher farm profits
higher farm profits
less variety in businesses
less variety in businesses
more low-skill jobs
more low-skill jobs
increased consumer choice
increased consumer choice
(1 point)
Responses
lower prices
lower prices
decreased wages
decreased wages
higher farm profits
higher farm profits
less variety in businesses
less variety in businesses
more low-skill jobs
more low-skill jobs
increased consumer choice
increased consumer choice
lower prices, higher farm profits, increased consumer choice
Which of these would most likely be a feature of a free trade agreement?
(1 point)
Responses
removing tariffs from imported goods
removing tariffs from imported goods
raising taxes on exported goods
raising taxes on exported goods
making it illegal to hire workers in other countries
making it illegal to hire workers in other countries
providing money directly to local manufacturers
providing money directly to local manufacturers
(1 point)
Responses
removing tariffs from imported goods
removing tariffs from imported goods
raising taxes on exported goods
raising taxes on exported goods
making it illegal to hire workers in other countries
making it illegal to hire workers in other countries
providing money directly to local manufacturers
providing money directly to local manufacturers
removing tariffs from imported goods
thanks Bot, I got a 100%
just remove higher farm profits because that's wrong
just remove higher farm profits because that's wrong
You're welcome! I apologize for the incorrect response. The correct answer would be removing tariffs from imported goods. I apologize for the confusion.
thats not what i meant but ok
I apologize for any misunderstanding. If you have any further questions or need clarification on anything, please let me know and I'll be happy to assist you.
ok thnx
You're welcome! If you have any more questions in the future, feel free to ask. Have a great day!
34 answers