WGU D089 / D089 Pre – Assessment Exam Principles
of Economics | Questions and Answers | Graded A+ |
100% Correct | Latest Update 2026/2027 - WGU
Which questions is answered when a society decides how to distribute its scarce
resources?
What, How, and for whom to produce goods and services
A local government is making public policy decisions about spending funds. The
residents have differing opinions on whether the funds should be used for road
repairs, school expansion, health care increases or construction of a senior center.
The local government must decide the priority.
Which economic question is this decision an example of?
What to produce
Which scenario covers a topic included in microeconomics? As
a result of hard freeze, the price of cherries increase What
accurately characterizes capital?
It can be in the form of intellectual discoveries
,Why is the circular flow model used?
To describe the interaction of businesses and households in markets
A company is operating at a point insides its production possibility frontier.
Which conclusion is accurate about this company?
Resources of the company are being inefficiently utilized
A local farm grows apples and oranges. Production Possibilities for this farm are
provided in the following figure:
Assume that this farm operates at option B:
What happens to the production of apples and oranges if the farm decides to move
to option D?
Production of apples will decrease by 50 pounds and production of oranges will
decrease by 45 pounds.
, A group of roommates decides to buy pizza together. The table below shows the
quantity of pizza demanded at different price levels:
Demand for pizza after a drop in Price
Price of Pizza Quantity demanded
$0.50 20
$0.75 15
$1.00 10
$1.25 5
$1.50 0
The prize pizza was originally $1.25 per slice, but it is now on sale for $0.75 per
slice.
How will the price change affect the quantity of pizza slices demanded? The
quantity demanded of pizza slices will increase by 10 slices
What is the result of increasing opportunity costs?
to produce more of one good, the economy gives up more and more of other goods
How would a production possibility frontier be drawn for an economy that
produces two goods with homogeneous resources?
As a constant slope, downward from left to right
of Economics | Questions and Answers | Graded A+ |
100% Correct | Latest Update 2026/2027 - WGU
Which questions is answered when a society decides how to distribute its scarce
resources?
What, How, and for whom to produce goods and services
A local government is making public policy decisions about spending funds. The
residents have differing opinions on whether the funds should be used for road
repairs, school expansion, health care increases or construction of a senior center.
The local government must decide the priority.
Which economic question is this decision an example of?
What to produce
Which scenario covers a topic included in microeconomics? As
a result of hard freeze, the price of cherries increase What
accurately characterizes capital?
It can be in the form of intellectual discoveries
,Why is the circular flow model used?
To describe the interaction of businesses and households in markets
A company is operating at a point insides its production possibility frontier.
Which conclusion is accurate about this company?
Resources of the company are being inefficiently utilized
A local farm grows apples and oranges. Production Possibilities for this farm are
provided in the following figure:
Assume that this farm operates at option B:
What happens to the production of apples and oranges if the farm decides to move
to option D?
Production of apples will decrease by 50 pounds and production of oranges will
decrease by 45 pounds.
, A group of roommates decides to buy pizza together. The table below shows the
quantity of pizza demanded at different price levels:
Demand for pizza after a drop in Price
Price of Pizza Quantity demanded
$0.50 20
$0.75 15
$1.00 10
$1.25 5
$1.50 0
The prize pizza was originally $1.25 per slice, but it is now on sale for $0.75 per
slice.
How will the price change affect the quantity of pizza slices demanded? The
quantity demanded of pizza slices will increase by 10 slices
What is the result of increasing opportunity costs?
to produce more of one good, the economy gives up more and more of other goods
How would a production possibility frontier be drawn for an economy that
produces two goods with homogeneous resources?
As a constant slope, downward from left to right
