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Opportunity Cost PPC Flashcards | StudBud
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Opportunity Cost PPC
Opportunity Cost PPC
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StudBud Administration
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#Economics Basic economic concepts #PPC #PPF
Flashcards
24 cards
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Practice quiz
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Questions
24
Answers
1
What Cartoon Character Is This?
Homer
Mr. Burns
Bart
Mr. Buns
2
Which branch of economics would include the analysis of Wal-Mart's business practices?
Sweatshop economics
Microeconomics
Macroeconomics
Risk Analysis
3
Inward shifts in the production-possibilities curve represents economic growth.
False
True
4
The impact of technology on humanity is best described as which of the following:
Digital: Life is actually a simulation
Trade-offs: For every good impact there is a potential negative impact
Positive: Dangers posed by tech are only imaginary
Negative: It is clear that AI is dangerous and will soon destroy humanity
5
What Cartoon Character Is This?
SquidWard
Mr. Crabs
Sandy
SpongeBob
6
Which branch of economics would analyze the terms of trade between the U.S and China?
Microeconomics
Macroecology
Macroeconomics
Soup
7
Which point on the PPC represents inefficiency?
C
B
A and D
E
8
What year was this awesome snack invented?
1990
1944
1984
1966
9
Which of the following would shift a nations PPC?
Quality of Doritos
Quantity of sources
Batteries
Quality of resources
10
By definition, a production possibilities curve shows the various combinations of output:
An economy should produce.
Producers would like to produce.
Consumers would like to consume.
An economy can produce.
11
Opportunity cost is the
worst
of the alternatives that must be given up when a choice is made.
False
True
12
In what restaurant can you order a Grand Slam breakfast?
McDonald's
Burger King
Hardee's
Denny's
13
What is this?
Some kind of messed up raccoon
Vermin Boy
Pikachu
Dikachu
14
Which thinker is accredited with developing the idea of the social contract?
John Locke
Thomas Snobbes
John LoKe
Curious George
15
Which of the following would increase a country's Productive Possibility Curve?
A mutually beneficial trade agreement
War
An increase in taxes
Cute baby monkeys with little tails
16
Which of the following points is not attainable under current situation?
D
E
A
F
17
What is the main theme of Federalist 10
Conrolling the effects of factions with a large republic
Social Contract Theory
Acid Jazz
Elite theory of Governemnt
18
Which branch of economics would be concerned with an individual's choices and use of time?
Biological Inferencing
Behavioral Economics
Psycho Economics
Egonomical research
19
Which of the folowing is a macroeconomic example of a trade-off?
Shoes vs Dryer Sheets
Consumer Goods vs Capital Goods
Non-Goods vs Crying
Sleeping vs Studying
20
What Cartoon Character Is This?
Tom
Itchy
Patrick
Jerry
21
What Cartoon Character Is This?
Lucy the Adventurer
Sponge Bob
Dora The Explorer
Dura the Explosioner
22
Using a PPC - an economy can produce food & shelter. If the production of
shelter
is increased:
The production of food remains constant
None of the answer are correct
The production of food must be increased
The production of food must be decreased
23
Life requires choices and choices always involve an opportunity cost.
False
True
24
Which thinker is accredited with the "Heirarchy of Needs" theory of human motivation?
Abraham Maslow
Abraham Lincoln
Beetlejuice
Maslowham Lonclow
