100 POINTS

1
100 POINTS When you choose one thing over another
A
TRADE OFF
B
SCARCITY
C
ECONOMICS
2
CORRECT !!!!!!!
TRADE OFF
3
African History - 100 POINTS The condition that
results because people have limited resources and
unlimited wants
TRADE OFF
A
ECONOMICS
B
SCARCITY
C
4
CORRECT !!!!!!!
100 POINTS SCARCITY
5
100 POINTS Should I get a boring job at the Mall
and make some money, or should I get an
internship that doesn't pay anything, but will
give me experience in something that interests
me? I can't do both.(THIS STAEMENT IS AN EXAMPLE
OF)
A
Economic Principle 2 Costs Verses Benefits
B
Economic Principle 3 Thinking at the Margin
Economic Principle 1 Scarcity Forces Tradeoffs
C
6
CORRECT !!!!!!!
100 POINTS Economic Principle 1 Scarcity Forces
Tradeoffs
7
100 POINTS This principle tells us that people
choose something when the benefits of doing so
are greater than the costs.
A
Economic Principle 4 Incentives Matter
B
Economic Principle 3 Thinking at the Margin
C
Economic Principle 2 Costs Verses Benefits
8
CORRECT !!!!!!!
100 POINTS C
Economic Principle 2 Costs Verses Benefits
9
You study two hours for an economics test. When
you are about to finish, you try to decide which
would be more beneficial studying an extra hour
or going to bed and getting some extra sleep.
(THIS STATEMENT IS AN EXAMPLE OF)
A
Economic Principle 4 Incentives Matter
B
Economic Principle 3 Thinking at the Margin
C
Economic Principle 2 Costs Verses Benefits
10
CORRECT !!!!!!!
100 POINTS B Economic Principle 3 Thinking at
the Margin
11
200 POINTS People stand in line all day in order
to buy a hard to get concert ticket for a band
they love. (THIS STATEMENT IS AN EXAMPLE OF)
A
Economic Principle 5 Trade Makes People Better
Off
B
Economic Principle 4 Incentives Matter
Economic Principle 6 Markets Coordinate Trade
C
12
CORRECT !!!!!!!
200 POINTS B Economic Principle 4 Incentives
Matter
13
200 POINTS When markets bring buyers and sellers
together, and their dealings are not interfered
with, they will both be satisfied with their
sales and purchases.(THIS STATEMENT IS AN EXAMPLE
OF)
A
Economic Principle 5 Trade Makes People Better
Off
B
Economic Principle 6 Markets Coordinate Trade
C
Economic Principle 4 Incentives Matter
14
CORRECT !!!!!!!
200 POINTS B Economic Principle 6 Markets
Coordinate Trade
15
200 POINTS People should buy things that they
cannot efficiently make for themselves for less
cost.(THIS STATEMENT IS AN EXAMPLE OF)
Economic Principle 6 Markets Coordinate Trade
A
Economic Principle 5 Trade Makes People Better
Off
B
C
Economic Principle 4 Incentives Matter
16
CORRECT !!!!!!!
200 POINTS B Economic Principle 5 Trade Makes
People Better Off
17
100 POINTS The study of how society manages its
scarce resources.
A
ECONOMICS
B
SCARCITY
TRADE OFF
C
18
CORRECT !!!!!!!
ECONOMICS
19
100 POINTS The study of the economic decisions
and actions of individual people, companies, etc.
A
ECONOMICS
B
MICROECONOMICS
MACROECONOMICS
C
20
CORRECT !!!!!!!
B MICROECONOMICS
21
100 POINTS The study of the economics in terms
of whole systems and large sectors of the
economy.
A
ECONOMICS
B
MICROECONOMICS
MACROECONOMICS
C
22
CORRECT !!!!!!!
B MACROECONOMICS
23
100 POINTS The study of the economics that is
objective, fact-based and able to be tested.
A
POSITIVE ECONOMICS
B
NORMATIVE ECONOMICS
MACROECONOMICS
C
24
CORRECT !!!!!!!
POSITIVE ECONOMICS
25
100 POINTS The study of the economics that is
subjective and based on opinion or ones own
values.
A
POSITIVE ECONOMICS
B
NORMATIVE ECONOMICS
MACROECONOMICS
C
26
CORRECT !!!!!!!
NORMATIVE ECONOMICS