Economics 002 - Principles of Economics II » Winter 2021 » Chapter 1 Lecture Quiz
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Question #1
The production possibilities curve is concave because of:
A.
Increasing opportunities costs
B.
Production possibilities model
C.
Optimal output
D.
The economizing problem
Question #2
Which term best describes a measure of "useful-ness"?
A.
Utility
B.
Production possibilities curve
C.
Budget line
D.
Money
Question #3
The term "__________ ____________", key point of Chapter 1 Part 2, is defined as all other things being constant.
A.
Ceteris paribus
B.
Dollar votes
C.
Straight line
D.
Economic model
Question #4
The key point from the lecture for Chapter 1 Part 4 is:
A.
International trade
B.
Optimal Output
C.
A shift in the Production Possibilities Curve
D.
Technological advance
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