Mr. Toedt's Econ Final Review

 Which of the 3 economic questions is addressed by marketing to teenage boys?

 Point D represents a level of production that is:

The opportunity cost per 1,000 trucks of producing 9000 trucks per year instead of 7,000 is:

Which statement below best answers the economic question How to produce?

The opportunity cost of producing 9000 boats per year instead of 4,000 is:

Which of the following statements about scarcity is true?

 If an entire Supply curve shifts to the left, it means that Supply has ________:

You sell gum, but teens start to prefer a rival gum brand. Which of these is true?

Steph Curry starts to endorse Nike. This means that Demand (or Quantity Demanded) has:

The products available for purchase are called the...

 A typical weakness of communist and socialist economies is the fact that:

Which of the following economic systems does away with (gets rid of) all private ownership?

If the quantity demanded moves to the right along the D curve, then the quantity demanded has:

The idea that the “invisible hand” will regulate the market is a belief of which system?

Which of the following proposes that basic economic conditions determine political structures?

The opportunity cost per 1,000 boats of producing 9000 boats per year instead of 4,000 is:

Nike has a clearance sale. This means Demand (or Quantity Demanded) for Nikes has:

 If an entire demand curve shifts to the left, it means that demand has ________:

Which of the following is NOT one of the basic economic questions?