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5 Written questions

5 Multiple choice questions

  1. reward offered to try to persuade people to take certain economic action
  2. the increase or decrease in costs as a result of one more or one less unit of output
  3. alternatives that must be given up when one is chosen over another
  4. things that are necessary for survival
  5. economy in which individuals control production and allocation decisions through supply and demand

4 True/False questions

  1. Free enterprisereward offered to try to persuade people to take certain economic action

          

  2. Scarcitythings that you would like to have but are not necessary for survival

          

  3. Opportunity costthe increase or decrease in costs as a result of one more or one less unit of output

          

  4. Capitalismthings that you would like to have but are not necessary for survival

          

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