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Social Studies
9th -
12thgrade
Production Possibilities Frontier (PPF) (C)
21 questions
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- 1. Multiple ChoiceIf the production of good X increases by 3 units and production of good Y decreases by one unit, then the opportunity cost of one unit of X is ____ unit(s) of Y.311/34
- 2. Multiple ChoiceThe table above shows the production possibilities for a country. Based on the table, which of the following production combinations is a possibility?28 pizzas and 5 pairs of shoes3 pairs of shoes and 23 pizzas2 pairs of shoes and 20 pizzas4 pairs of shoes and 15 pizzas
- 3. Multiple ChoiceBased on the table, if the country is currently producing at point B and decides to produce at point C, the opportunity cost for the additional pair of shoes is ____ pizzas.262332
- 4. Multiple ChoiceWhat is the production possibilities curve?a graph that shows how much an economy can produce between 2 goodshow much money something isthe opportunity one has to give up in order to gain something elseland, labor, capital, entrepreneurs
- 5. Multiple Choice
What is opportunity cost?
a graph that shows how much an economy can produce between 2 goods
how much money something is
the next best alternative that must be given up when making a choice
land, labor, capital, entrepreneurs
- 6. Multiple ChoiceHow do you satisfy your unlimited wants in a world of limited resources?by making more moneyby making choicesby stealingby setting a budget
- 7. Multiple ChoiceWhat is the fundamental problem of every society?labor costsscarcityeconomic interdependencemarket fluctuation
- 8. Multiple ChoiceLand, Labor, Capital, and EntrepreneurshipDiversificationDeductionsPortfolioFactors of Production
- 9. Multiple ChoiceThe opportunity cost of increasing production from 7 to 9 trucks isScarcity2 boats2 trucks3 boats
- 10. Multiple ChoiceThe opportunity cost of increasing production from 4 to 7 boats is1 boat2 boats2 trucks3 trucks
- 11. Multiple ChoiceThe production possibilities curve is an illustration of what?Opportunity costs and trade-offsOnly opportunity costsOnly trade-offsnone of the above
- 12. Multiple ChoiceWhat do points outside of the PPF indicate?Unattainable combinations of goodsIdeal combinations of goodsInefficient combinations of goods
- 13. Multiple ChoiceEconomic growth affects the PPF by...Shifting inwardShifting outwardcausing no change at allturning it into a straight line
- 14. Multiple ChoiceWhat do points inside the PPF indicate?The combination of goods that employ goods efficientlyThe combination of goods that employ resources fullyThe combination of goods that do not employ resources fully
- 15. Multiple ChoiceThe PPF bows outward. Which of the following concepts does this illustrate?The law of increasing scarcityThe law of economic growthThe law of decreasing efficiencyThe law of increasing opportunity cost
- 16. Multiple ChoiceWhat does point B represent?Production at greater than the country's minimum potentialProduction is less than the country's minimum potentialProductive inefficiencyProductive efficiency
- 17. Multiple ChoiceWhich point represents "resources are not being used efficiently, or resources are being wasted or idle"?Point APoint YPoint XAll of the above
- 18. Multiple ChoiceAs we move from point A to point D,the opportunity cost of eggs in terms of bacon falls.the opportunity cost of eggs in terms of bacon rises.the opportunity cost of eggs in terms of bacon is constant.the economy becomes less efficient.
- 19. Multiple ChoiceIf a natural disaster strikes, the production possibilities curve can shiftNo shiftTo the leftTo the rightOutward on one axis only
- 20. Multiple ChoiceIf an economy is producing at a point of inefficiency within the curve...It is not possible to produce more of either good without producing less of the otherIt is not possible to produce more of either good without more resourcesIt is possible to produce more of both goods only if there is an improvement in technologyIt is possible to produce more of 1 or both goods without facing a tradeoff
- 21. Multiple ChoiceWhen a country is coming out of a recession into a time with lower unemployment, the country is moving from a pointoutside the PPC to point inside the PPCclose to the PPC to a point inside the PPCinside the PPC to a point closer to the PPCoutside the PPC to a point closer to the PPC
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