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Social Studies

11th -





20 questions

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  • 1. Multiple Choice
    45 seconds
    1 pt

    Economics is the study of

    how society manages its unlimited resources.

    how to reduce our wants until we are satisfied.

    how to allocate resources to best satisfy our unlimited wants.

    how to avoid having to make trade-offs.

  • 2. Multiple Choice
    45 seconds
    1 pt

    A rational person

    buys the cheapest products at all times

    undertakes actions which produce marginal social benefits that exceed marginal social costs.

    considers the marginal utility gained from an action and chooses those activities which generate the greatest utlity

    none of these answers.

  • 3. Multiple Choice
    45 seconds
    1 pt

    Which of the following is not part of the opportunity cost of going on holiday?

    the London City break and theatre show which you gave up to afford the holiday

    the money you could have made if you had stayed at home and worked

    the money you spent on food

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