Froggy Jumps: Production Possibilities Curve Quiz


Froggy Jumps Production Possibilities Curve QuizVersion en ligne Test your knowledge about production possibilities curve with this quiz game! par sarah ayyad 1 What does a point inside the production possibilities curve represent? a Underutilization of resources b Efficient use of resources c Unattainable production levels 2 What does a point outside the production possibilities curve represent? a Underutilization of resources b Unattainable production levels c Efficient use of resources 3 What does a straight line production possibilities curve indicate? a Constant opportunity cost b Decreasing opportunity cost c Increasing opportunity cost 4 What does a bowed outwards production possibilities curve indicate? a Increasing opportunity cost b Constant opportunity cost c Decreasing opportunity cost 5 What does a shift outward of the production possibilities curve indicate? a No change in the economy b Economic growth c Economic decline 6 What does a shift inward of the production possibilities curve indicate? a No change in the economy b Economic decline c Economic growth 7 What is the opportunity cost of producing more of one good? a The amount of the other good that must be given up b The price of the other good c The total cost of producing the additional units 8 What is the concept that reflects the trade-offs between two goods? a Opportunity cost b Marginal cost c Average cost 9 What is the maximum combination of goods that can be produced with available resources? a Production possibilities frontier b Supply curve c Demand curve 10 What does a point on the production possibilities curve represent? a Unattainable production levels b Efficient use of resources c Underutilization of resources 11 What is opportunity cost? a The loss of potential gain from other alternatives when one alternative is chosen. b The gain of potential gain from other alternatives when one alternative is chosen. c The gain of potential loss from other alternatives when one alternative is chosen. 12 How is opportunity cost calculated? a By comparing the benefits and costs of different alternatives. b By comparing the benefits of different alternatives. c By comparing the costs of different alternatives. 13 What is the relationship between scarcity and opportunity cost? a Scarcity reduces opportunity cost. b Scarcity has no impact on opportunity cost. c Scarcity leads to opportunity cost. 14 Which of the following is an example of opportunity cost? a Choosing to study for an exam instead of going to a party. b Choosing to go to a party instead of studying for an exam. c Choosing to go to a party and study for an exam at the same time. 15 What is the concept of trade-offs related to opportunity cost? a Making a decision to keep everything and not give up anything. b Making a decision to give up one thing in order to gain something else. c Making a decision to gain one thing without giving up anything. 16 How does opportunity cost affect decision-making? a It only focuses on the benefits of different alternatives. b It helps in evaluating the benefits and costs of different alternatives. c It does not have any impact on decision-making. 17 What is the opportunity cost of watching a movie? a The enjoyment and entertainment gained from watching the movie. b The time and money that could have been spent on other activities. c The time and money spent on watching the movie. 18 Why is opportunity cost important in economics? a It helps in understanding the true cost of choices and the value of resources. b It is not important in economics. c It only focuses on the benefits of choices. 19 What is the opportunity cost of going on a vacation? a The potential income that could have been earned by working instead. b The money spent on the vacation. c The enjoyment and relaxation gained from going on a vacation. 20 How does opportunity cost relate to the concept of scarcity? a Scarcity eliminates the need to make choices and incur opportunity costs. b Scarcity has no relationship with opportunity cost. c Scarcity forces individuals to make choices and incur opportunity costs.

1

What does a point inside the production possibilities curve represent?

a

Underutilization of resources

b

Efficient use of resources

c

Unattainable production levels

2

What does a point outside the production possibilities curve represent?

a

Underutilization of resources

b

Unattainable production levels

c

Efficient use of resources

3

What does a straight line production possibilities curve indicate?

a

Constant opportunity cost

b

Decreasing opportunity cost

c

Increasing opportunity cost

4

What does a bowed outwards production possibilities curve indicate?

a

Increasing opportunity cost

b

Constant opportunity cost

c

Decreasing opportunity cost

5

What does a shift outward of the production possibilities curve indicate?

a

No change in the economy

b

Economic growth

c

Economic decline

6

What does a shift inward of the production possibilities curve indicate?

a

No change in the economy

b

Economic decline

c

Economic growth

7

What is the opportunity cost of producing more of one good?

a

The amount of the other good that must be given up

b

The price of the other good

c

The total cost of producing the additional units

8

What is the concept that reflects the trade-offs between two goods?

a

Opportunity cost

b

Marginal cost

c

Average cost

9

What is the maximum combination of goods that can be produced with available resources?

a

Production possibilities frontier

b

Supply curve

c

Demand curve

10

What does a point on the production possibilities curve represent?

a

Unattainable production levels

b

Efficient use of resources

c

Underutilization of resources

11

What is opportunity cost?

a

The loss of potential gain from other alternatives when one alternative is chosen.

b

The gain of potential gain from other alternatives when one alternative is chosen.

c

The gain of potential loss from other alternatives when one alternative is chosen.

12

How is opportunity cost calculated?

a

By comparing the benefits and costs of different alternatives.

b

By comparing the benefits of different alternatives.

c

By comparing the costs of different alternatives.

13

What is the relationship between scarcity and opportunity cost?

a

Scarcity reduces opportunity cost.

b

Scarcity has no impact on opportunity cost.

c

Scarcity leads to opportunity cost.

14

Which of the following is an example of opportunity cost?

a

Choosing to study for an exam instead of going to a party.

b

Choosing to go to a party instead of studying for an exam.

c

Choosing to go to a party and study for an exam at the same time.

15

What is the concept of trade-offs related to opportunity cost?

a

Making a decision to keep everything and not give up anything.

b

Making a decision to give up one thing in order to gain something else.

c

Making a decision to gain one thing without giving up anything.

16

How does opportunity cost affect decision-making?

a

It only focuses on the benefits of different alternatives.

b

It helps in evaluating the benefits and costs of different alternatives.

c

It does not have any impact on decision-making.

17

What is the opportunity cost of watching a movie?

a

The enjoyment and entertainment gained from watching the movie.

b

The time and money that could have been spent on other activities.

c

The time and money spent on watching the movie.

18

Why is opportunity cost important in economics?

a

It helps in understanding the true cost of choices and the value of resources.

b

It is not important in economics.

c

It only focuses on the benefits of choices.

19

What is the opportunity cost of going on a vacation?

a

The potential income that could have been earned by working instead.

b

The money spent on the vacation.

c

The enjoyment and relaxation gained from going on a vacation.

20

How does opportunity cost relate to the concept of scarcity?

a

Scarcity eliminates the need to make choices and incur opportunity costs.

b

Scarcity has no relationship with opportunity cost.

c

Scarcity forces individuals to make choices and incur opportunity costs.

Production Possibilities Curve Quiz

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Production Possibilities Curve QuizVersion en ligne

par sarah ayyad

What does a point inside the production possibilities curve represent?

What does a point outside the production possibilities curve represent?

What does a straight line production possibilities curve indicate?

What does a bowed outwards production possibilities curve indicate?

What does a shift outward of the production possibilities curve indicate?

What does a shift inward of the production possibilities curve indicate?

What is the opportunity cost of producing more of one good?

What is the concept that reflects the trade-offs between two goods?

What is the maximum combination of goods that can be produced with available resources?

What does a point on the production possibilities curve represent?

What is opportunity cost?

How is opportunity cost calculated?

What is the relationship between scarcity and opportunity cost?

Which of the following is an example of opportunity cost?

What is the concept of trade-offs related to opportunity cost?

How does opportunity cost affect decision-making?

What is the opportunity cost of watching a movie?

Why is opportunity cost important in economics?

What is the opportunity cost of going on a vacation?

How does opportunity cost relate to the concept of scarcity?