AP Macro Module 1
1 ) 03
a)If I go to the beach, the opportunity cost is that I will not be prepared for test; likewise, easily study pertaining to the exam, the ability cost is i will not be having a good time at the beach.
b)If We get a job following high school, the ability cost is i will lose out on a college education; likewise, merely go to school, the opportunity expense is that I will not be making money, as I will not have employment.
c)If I leave early pertaining to school, the ability cost is that I will not have experienced breakfast; also, if I include breakfast, the ability cost is i will arrive to school early.
d)If My spouse and i go to the films, the opportunity cost is that I is not going to complete my personal portion of the group job; likewise, merely complete my personal group job, the opportunity cost is that I won't have the excitement from going to the videos.
e)If I check out a party in a pal's house, the ability cost is that I will not be house on in the beginning a school night time and may be tired the following day; likewise, if I go to sleep early, the opportunity cost is that I will not have gone to the party.
installment payments on your
Resources are scarce to get the obvious cause, as they can eventually run out. Every target requires the factors of production, which includes terrain (finite), labor (finite), and capital(finite, while the previous two are finite). So , it is economically, thus physically, extremely hard for assets to not end up being scarce, because they are made up of limited factors, such as land and labor. My own calculator battery packs are an example of a scarce resource, because they will at some point run out. You could suggest that I really could just buy even more batteries; however , that, also, would technically be limited, as there isn't an unlimited supply of batteries in the world. you would like to take this examination again, you are able to reset test and take it once again This exam can be totally reset 4 time(s). You have previously reset the exam 1 time(s). Your rating on this examination is 31 out of 30.
Guidance: Each of the multiple choice questions or imperfect statements below is and then suggested answers or completions. Select the the one that is best every time.
Question you (Worth a few points)
In line with the graph above, the opportunity cost of producing 75 additional shell necklaces can be 75 bottles of coconut oil.
125 or more bottles of coconut oil
125 or fewer bottles of coconut essential oil.
125 bottles of coconut oil.
50 bottles of coconut oil
Points earned on this question: 3
Question 2 (Worth 3 points)
According to the creation possibilities competition above, in case the economy movements from point B to point Electronic, the opportunity expense of each further guava jello increases.
remains a similar.
Points earned on this question: 3
Question 3 (Worth 3 points)
If the development possibilities shape is a direct diagonal collection, then economists say that you will find increasing opportunity costs.
you will find decreasing opportunity costs.
you will discover zero option costs.
you will discover constant opportunity costs.
the favorable is a free of charge good.
Items earned with this question: 3
Question some (Worth several points)
In case the production possibilities curve is usually concave in the origin, then simply economists say that resources will be scarce throughout the economy.
economic growth is occurring in the economy.
resources are generally not equally fitted to the production of both products. resources happen to be being idly, lazily, slowly, used in our economy.
resources will be equally suited to the production of either very good. Points received on this issue: 3
Question 5 (Worth 3 points)
If the production possibilities competition is a top to bottom line, in that case economists admit there are frequent opportunity expenses associated with these merchandise. resources are equally suited to the production of either very good. the good around the X axis is a totally free good.
the favorable on the Con axis is known as a...