Practice mode / Introduction To Economics Which of the following is not part of the opportunity cost of going on holiday? A Option A: The money you spent on a theater show B Option B: The money you could have made if you had stayed at home and worked C Option C: The money you spend on airline tickets D Option D: the money you spent on food Correct answer D. the money you spent on food Show answer
Question 01 / Introduction To Economics Economics is the study of? A Option A: Production technology B Option B: Consumption decisions C Option C: how society decides what how and for whom to produce D Option D: the best way to run society Correct answer C. how society decides what how and for whom to produce Show answer Open question
Question 02 / Introduction To Economics A market can accurately be described as? A Option A: a place to buy things B Option B: a place to sell things C Option C: the process by which prices adjust to reconcile the allocation of resources D Option D: a place where buyers and sellers meet Correct answer C. the process by which prices adjust to reconcile the allocation of resources Show answer Open question
Question 03 / Introduction To Economics In the mixed economy? A Option A: economics problems are solved by the government and market B Option B: economic decisions are made by the private sector and free market C Option C: economic allocation is achieved by the invisible hand D Option D: economics s is solved by government departments Correct answer A. economics problems are solved by the government and market Show answer Open question
Question 04 / Introduction To Economics Macroeconomics is the study of? A Option A: individual building blocks in the economy B Option B: the relationship between different sectors on the economy C Option C: household purchase decisions D Option D: the economy as a whole Correct answer D. the economy as a whole Show answer Open question
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