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Economics Quiz Flashcards | StudBud
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Economics Quiz
Economics Quiz
25 terms
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StudBud Administration
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40 plays
Total Business. Just entirely all economic questions. Do not use for your class. Too boring.
Flashcards
25 cards
F
Practice quiz
P
Host live
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Questions
25
Answers
1
The singer is...
Edith Piaf
Sinead O Connell
Marilyn Manson
Ingrid Bergman
2
JK. Last one. Who has the misfortune of
possibly
seeing my face more than four times next week
Jungwoo Kim
Anthony Phan
Gurveer Singh
Arun Sharma
3
Economics is the study of how...(choose best answer)
people distribute limited resources to optimize wants
people allocate goods, assign prices, and produce quantities
people allocate resources to satisfy wants and needs
people allocate wants and needs to maximize resources
4
Meanwhile, an absolute advantage occurs when something/someone can produce something at...
a lower cost per unit than everyone else
a lower cost
a lower opportunity cost than everyone else
a lower aggregate cost then everyone else
5
Balut is a dish that consists of a
duck embryo
duck egg
duck yolk
duck whites
6
The cost of the next best alternative is called
Ceteris Paribus
Fixed Cost
Opportunity Cost
Alternative Cost
7
All of the following will shift the demand curve except...
Income rises for an inferior good
Reduction in price
Good falls out of style
Income Rises for a normal good
8
A statement that can be proven or disproven with facts
Positive Statement
Positive Statement
Normative Statement
Normative Statement
9
The Canadian Government should legalize universal childcare is an example of
Normative Statement
Normative Statement
Positive Statement
Positive Statement
10
G-Dragon. Taeyang. The other guy. And that guy that can sing, but is not as popular.
Mr Hung has never listened to Kpop.
Shinee
Big Bang
BTS
11
Finally, Mr. Hung is
We will never know specifically...
Korean
Chinese
Taiwanese
12
Depicted in this video is...
Bhangra Dancing
Bharata Natyam
Bollywood
Manipuri
13
What causes a movement along the demand curve?
A decrease in the price of a complementary good
Price changes in a good and quantity supplied
Price changes in a good and changes in quantity demanded
Price changes in a service and quantity supplied
14
See Picture.
Butcher's out for my money
Life sucks. Get over it.
Our self interest serves to allocate resources
Greed is good
15
All other things equal
Valar Morghulis
E pluribus unum
Ceteris Paribus
Valar Dohaeris
16
Nay nay (Namond) say to cuddy "mike aint mike no mo." (choose best answer)
mike aint in the game no mo
mike is in da game
mike and nay nay no mo
The Wire is the best show in creation (for old people)
17
Something has a comparative advantage when it
can produce something at a lower baseline aggregate cost
can produce something at a lower cost and higher revenue
can produce something at a lower opportunity cost
can produce something at a lower cost
18
The price of soft drinks at the movie theatre decreases... the demand for popcorn will...
Damien Lewis
Increase
Stay the same
Decrease
19
Universal Healthcare will increase government expenditures (costs)
Normative Statement
Positive Statement
Normative Statement
Positive Statement
20
What is one modern day criticism to this quote?
Economics is a lie
Externalities (e.g. Lobbyists or pollution)
The quote was written in the late 1700s
Adam Smith had right wing bias
21
In game of thrones, the religion "lord of the light" resembles which sort of modern religion?
Zoroastrianism
Ithna Ashariya branch of Shia Islam
Sikhism
Christianity
22
Lagaan, Three Idiots, Kiran Rao. All izz well.
Ranganathan Madhavan
Aamir Khan
Amitabh Babchan
Sharman Joshi
23
A statement that is value based or based on opinions (choose best answer)
Normative Statement
Normative Statement
Positive Statement
Positive Statement
24
Think hard. In the 2010-11 season, this person was MrHung's favorite hockey player- Morweena
Sidney Crosby
Carey Price
Jonathan Toews
James Reimer
25
In this PPC curve, as one moves from Point A to point E, the opportunity cost
Decreases
Increases
Stays the same
Extends outside the PPC
