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Chapter 2 and 3 Flashcards | StudBud
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Chapter 2 and 3
Chapter 2 and 3
9 terms
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StudBud Administration
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68 plays
PPF, Demand Supply, characteristics of goods
Flashcards
9 cards
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Practice quiz
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Questions
9
Answers
1
The production possibility frontier (PPF) is...
concave
linear
round
convex
2
In case that the PPF is concave, the opportunity costs of producing pizza are
linear
constant
increasing
decreasing
3
A swim club offers swim learning classes for kids. Energy heats up water. Energy prices explode...
price down & quantity down
price up & quantity up
price down & quantity up
price up & quantity down
4
Fuels from 'Ingo' or 'Circle K' gas station. The goods are...
complements
substitutes
Freemium goods
inferior
5
All points on the PPF are allocative efficient!
True
False
6
The PPF shifts ouside, because...
of savings
more efficient technology to produce ovens
of depreciation
more labor units
7
All points on the PPF are all production efficient.
True
False
8
A swim club offers swim learning classes for kids. Energy heats up water. Energy prices explode...
Positive supply shock
Negative demand shock
Positive demand shock
Negative supply shock
9
Printer & ink. The goods are
substitutes
complements
Freemium goods
inferior
