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Economics Basics - Round 3 Flashcards | StudBud
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Economics Basics - Round 3
Economics Basics - Round 3
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Flashcards
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Questions
10
Answers
1
What is the opportunity cost if we change from making 7 smart phones to making 9?
1 tablet
2 smart phones
Can't Determine
2 tablets
2
What is the opportunity cost if we change from making 10 Gloves to making 30 Gloves?
50 Hats
30 Hats
5 Hats
Can't Determine
3
Based on this Production Possibilities Chart, is it possible to make 6 Smart Phones and 15 Tablets?
Yes
No
Can't Determine
4
What is the opportunity cost if we change from making 30 Hats to making 40 Hats?
2 Gloves
Can't Determine
5 Gloves
4 Gloves
5
What can be done to increase production to 60 Gloves?
Can't Determine
Increase # of workers
Can't be done
Increase amount of resources
6
Based on the chart below, can this factory make 30 Gloves and 20 Hats?
No
Yes
Can't Determine
7
Based on this Production Possibilities Chart, is it possible to make 10 Smart Phones and 10 Tablets?
No
Yes
Can't Determine
8
What is the opportunity cost if we change from making 16 gloves to making 18 gloves?
Can't Determine
2 Gloves
5 Hats
2 Hats
9
What is the opportunity cost if we change from making 8 smart phones to making 12?
Can't Determine
8 tablets
4 smart phones
4 tablets
10
Based on this Production Possibilities Chart, is it possible to make 7 Smart Phones and 13 Tablets?
No
Can't Determine
Yes
