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Of the foliowing, economics may best be defined as the study of:

How resources are used to produce goods and services to be allocated among individuals in the society

Economics differs from other social sciences because of its focus on

Scarcity

The term "ceteris paribus" means

Other things held constant

Theories in science:

Are simplified relations describing reality

Which of the following is the most basic of the subjects with which the study of economics must seek to deal?

Scarcity

Scarcity in economics refers basically to:

None of the above

Which one of the following is not an economic good?

Sunlight

Basic economic questions that any economy must address

What and how much to produce, how to produce them, and for whom the benefits of production must go

Which of the foliowing is a normative statement?

Price controls on oil and gasoline are only fair.

Which of the foliowing can be classified under macroeconomic probiem?

All of the above

The economic problem "What to produce?" refers to

The amounts and types of commodities produced in an economy

The economic problem "How to produce?" refers to

The way in which resources are combined in order to produce the commodities

The economic problem "For whom to produce?" refers to

The beneficiaries from the choices made in a society

Distribution in economics refers to

For whom to produce

Which of the following best illustrates the notion of economic cost?

In deciding to spend an evening with friends, one is giving up time that could nave been usec for studies.

Which of the following best describes the term 'opportunity cost" ?

Value of best foregone alternative

What is the opportunity cost to you of driving to a free rock concert in some outlying farm area?

The cost of the gasoline.

Factors of production are:

inputs

Assuming an esonomy is producing only rice and vegetables, being on the possibilities frontier means that:

More vegetables can be produced only by doing without some rice

If the economy is operating inside the production possibilities frontier, then

The resources are not fully utilized in production

Technoiogical improvements will cause

An outward shift in the production possibilities frontier

The production possibilities frontier is concave (bowed out) from below because:

of the principie of increasing opportunity cost

Which of the following must be held constant in drawing up a production possibilities frontier?

The total quantities of resources

The law of increasing (relative) opportunity cost expresses the fact that

Society must sacrifice ever-increasing amounts of one good to get equal extra amounts of another good

A shift in the production possibilities frontier results from:

Changes in production techniques

The production possibilities of a country can be said to shift outward as a result of which of the following?

All of the above

CLSU

CLSU

CBRC SET A

CBRC SET A

clsu test question

clsu test question

clsu test question 2

clsu test question 2

cbrc

cbrc

Gante, Sherlane R. · 25問 · 1年前

UPLB

UPLB

25問 • 1年前

CBRC set a

CBRC set a

Gante, Sherlane R. · 50問 · 1年前

Animal breeding/genetics

Animal breeding/genetics

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Animal physiology

Animal physiology

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Beef Cattle production

Beef Cattle production

26問 • 1年前

Gante, Sherlane R. · 35問 · 1年前

Poultry production

Poultry production

35問 • 1年前

Gante, Sherlane R. · 32問 · 1年前

Swine

Swine

32問 • 1年前

Animal nutrition

Animal nutrition

Gante, Sherlane R. · 8問 · 1年前

Animal nutrition 2

Animal nutrition 2

8問 • 1年前

Gante, Sherlane R. · 75問 · 1年前

Animal products

Animal products

75問 • 1年前

CBRC SET B

CBRC SET B

UPLB

UPLB

CBRC set b

CBRC set b

CBRC Set A

CBRC Set A