ECON 101 Quiz 2

 

Don't use plagiarized sources. Get Your Custom Essay on
ECON 101 Quiz 2
For as low as $13/Page
Order Essay

ECON 101 Quiz 2                                            Question 1 of 10

10.0 Points

The branch of economics that examines the impact of choices on aggregates in the economy is:

A.positive economics.

B.normative economics.

C.macroeconomics.

D.microeconomics.

Question 2 of 10

10.0 Points

When we are forced to make choices we are facing the concept of:

A.ceteris paribus.

B.free goods.

C.scarcity.

D.the margin.

Question 3 of 10

10.0 Points

An economic system is the set of rules that define _______ and _______ .

A.resources; prices

B.who gets to vote; when elections will be held

C.market prices; factors of production

D.how an economy’s resources are to be owned; how decisions about the resources are to be made

Question 4 of 10

10.0 Points

In a market capitalist economy:

A.factors of production are owned privately and decisions about their use are basically made by individuals.

B.factors of production are owned by the government but decisions about their use are made privately.

C.private ownership exists but decisions about resource allocation are usually made centrally by the government.

D.there is no role for the government.

Question 5 of 10

10.0 Points

The branch of economics that examines the choices of consumers and firms is:

A.positive economics.

B.normative economics.

C.macroeconomics.

D.microeconomics.

Question 6 of 10

10.0 Points

Scarcity in economics means:

A.not having sufficient resources to produce all the goods and services we want.

B.the wants of people are limited.

C.there must be poor people in rich countries.

D.economists are clearly not doing their jobs.

Question 7 of 10

10.0 Points

In a command socialist economy:

A.resources are government owned but individuals make some decisions over their use.

B.resources are government owned and government exercises broad power over their use.

C.resources are privately owned and individuals make decisions over their use.

D.resources are privately owned but government exercises broad power over their use.

Question 8 of 10

10.0 Points

The basic concern of economics is:

A.to keep business firms from losing money.

B.to prove that capitalism is better than socialism.

C.to study the choices people make.

D.to use unlimited resources to produce goods and services to satisfy limited wants.

Question 9 of 10

10.0 Points

Whenever a choice is made:

A.the value of all the other choices that could have been made is called opportunity cost.

B.normative economics is encountered.

C.the problem of “all other things unchanged” results.

D.the opportunity cost of that choice is value of the next best alternative

Question 10 of 10

10.0 Points

Economics is different from other social sciences because it gives special emphasis to the study of ______; it is similar to other social sciences because they are all concerned with the study of _______.

A.unlimited resources; economic systems

B.human interactions; limited resources

C.opportunity costs; choices

D.social behavior; scarcity

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
Live Chat 1 763 309 4299EmailWhatsApp

Order your essay today and save 20% with the discount code WELCOME