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- 1. Multiple Choicethe factors of produtionScarcitychoiceopportunity costresources
- 2. Multiple Choiceselecting an item or actionScarcitychoiceopportunity costresources
- 3. Multiple Choicewhat is given up when a choice is madeScarcitychoiceopportunity costresources
- 4. Multiple Choiceamount of money exchanged for a good or servicepriceincentiveconsumptionproduction
- 5. Multiple Choicethings that incite or motivatepriceincentiveconsumptionproduction
- 6. Multiple Choiceusing goods and servicespriceincentiveconsumptionproduction
- 7. Multiple Choicecombining resources to make a good or provide a servicepriceincentiveconsumptionproduction
- 8. Multiple Choiceamount of a good a producer will make and sell at a certain pricepriceincentivedemandsupply
- 9. Multiple Choiceamount of a good a consumer will buy at a certain pricepriceincentivedemandsupply
- 10. Multiple ChoiceThe inability to satisfy all wants at the same timeScarcitychoiceopportunity costresources
- 11. Multiple Choice
Ms. Jackson went out on black Friday hoping to score a new flat-screen tv at the local Walmart supercenter. She was sorely disappointed when she realized that she was the 100th person in line and Walmart only guaranteed to have 4 tv’s in stock. What basic concept does this illustrate?
scarcity
supply
demand
incentives
price
- 12. Multiple Choice
Mr. Nester saw an advertisement on TV that said, “ Half off beard cream” at Kroger”. He rushes down to the store to go shopping. What basic concept does this illustrate?
scarity
supply
consumption
incentive
price
- 13. Multiple Choice
Ms. Lopes' Focus has finally bit the dust. Thus, she went down to Ronnie’s Auto Shop. She has narrowed her choices down to a Prius or a Volt but can only afford to buy one. She pulls out of the parking lot in a Volt. What is the opportunity cost of Ms. Lopes buying the Volt?
opportunity cost
choice
Volt
Prius
Price
- 14. Multiple Choice
Mr. Perkins loves Sketchers so he went to the store and bought himself a few new pairs. What possible concept does this BEST illustrate?
Supply
Demand
Consumption
Production
Incentives
- Answer choicesTagsAnswer choicesTags