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Chapter 1-4, 5, and 8 Naked Economics

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43 questions

  • 1. Open Ended
    30 seconds
    1 pt
    Examples of this concept include: getting a vaccine now to prevent illness in the future, buying a meal for a homeless person, and volunteering for agency committee to increase likelihood of future promotions. -Maximizing utility -Preferences -Demand Curve -Selfishness
  • 2. Fill in the Blank
    30 seconds
    1 pt
    The definition of "cost" is __________. -the resources, money, time when comparing options -the money spent on an item -the amount of effort involved to purchase or obtain something -stock market relation to the economy
  • 3. Fill in the Blank
    30 seconds
    1 pt
    The definition of a demand curve is __________. -as price increases then people are willing to pay more -graph showing that more items are produced the price goes down -as the price of gas increases then people stop buying Hummers -line graph showing the price of an item compared to what people are willing to pay
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