Chapter 01 Testbank
b b
Student:b
1. Economicsbisbbestbdefinedbasbthebstudybof
A. pricesbandbquantities.
B. inflationbandbinterestbrates.
C.
howbpeoplebmakebchoicesbunderbthebconditionsbofbscarcity.
D. wagesbandbincomes.
2. Economicbquestionsbalwaysbdealbwith
A. financialbmatters.
B. politicalbmatters.
C. insufficientbresources.
D.
choicesbinbthebfacebofblimitedbresources.
,3. Thebrangebofbtopicsborbissuesbthatbfitbwithinbthebdefinitionbofbeconomicsbis
A. limitedbtobmarketbactivities,be.g.,bbuyingbsoap.
B. limitedbtobindividualsbandbfirms.
C. extremelybwide,brequiringbonlybthebideasbofbchoicebandbscarcity.
D. veryblimited.
4. Thebcentralbconcernbofbeconomicsbis
A. poverty.
B. scarcity.
C. wealthbaccumulation.
D. overconsumption.
5. Thebscarcitybprinciplebindicatesbthat
A. nobmatterbhowbmuchbonebhas,bitbisbneverbenough.
B. comparedbtob100byearsbago,bindividualsbhaveblessbtimebtoday.
C. withblimitedbresources,bhavingbmorebofb"this"bmeansbhavingblessbofb"that."
D. becausebtradeoffsbmustbbebmade,bresourcesbarebthereforebscarce.
,6. Theblogicalbimplicationbofbthebscarcitybprinciplebisbthat
A. onebwillbneverbbebsatisfiedbwithbwhatbonebhas.
B. asbwealthbincreases,bmakingbtradeoffsbbecomesblessbnecessary.
C. asbwealthbdecreases,bmakingbtradeoffsbbecomesblessbnecessary.
D. choicesbmustbbebmade.
7. Ifballbthebworld'sbresourcesbwerebtobmagicallybincreaseb100bfold,bthen
A. thebscarcitybprinciplebwouldbstillbgovernbbehavior.
B. economicsbwouldbnoblongerbbebrelevant.
C. thebscarcitybprinciplebwouldbdisappear.
D. tradeoffsbwouldbbecomebunnecessary.
8. Thebprinciplebofbscarcitybappliesbto
A. thebpoorbexclusively.
B. allbconsumers.
C. allbfirms.
D. everyone;bconsumers,bfirms,bgovernments,bandbnations.
, 9. Atbthebverybleast,bpoorbandbwealthybindividualsbarebidenticallyblimitedbby
A. theirbwealth.
B. theb24bhoursbthatbcomprisebabday.
C. theirbknowledge.
D. theirbinfluence.
10. Forestbisbabmountainbmanblivingbinbcompletebisolation.bHebisbcompletelybself-
sufficientbthroughbhunting,bfishing,bandbfarming.bHebhasbnotbbeenbinbthebcitybtobbuybanythingbinbfive
years.bOnebcanbinfer
b
A. thebscarcitybprinciplebdoesbnotbapplybtobForest.
B. Forestbisbnotbrequiredbtobmakebchoices.
C. thebscarcitybprinciplebstillbappliesbbecausebmorebhuntingbmeansblessbfishingbandbfarming.
D. Forestbisbverybsatisfied.
11. Thebscarcitybprinciplebappliesbto
A. allbdecisions.
B. onlybmarketbdecisions,be.g.,bbuyingbabcar.
C. onlybnon-marketbdecisions,be.g.,bwatchingbabsunset.
D. onlybthebpoor.
b b
Student:b
1. Economicsbisbbestbdefinedbasbthebstudybof
A. pricesbandbquantities.
B. inflationbandbinterestbrates.
C.
howbpeoplebmakebchoicesbunderbthebconditionsbofbscarcity.
D. wagesbandbincomes.
2. Economicbquestionsbalwaysbdealbwith
A. financialbmatters.
B. politicalbmatters.
C. insufficientbresources.
D.
choicesbinbthebfacebofblimitedbresources.
,3. Thebrangebofbtopicsborbissuesbthatbfitbwithinbthebdefinitionbofbeconomicsbis
A. limitedbtobmarketbactivities,be.g.,bbuyingbsoap.
B. limitedbtobindividualsbandbfirms.
C. extremelybwide,brequiringbonlybthebideasbofbchoicebandbscarcity.
D. veryblimited.
4. Thebcentralbconcernbofbeconomicsbis
A. poverty.
B. scarcity.
C. wealthbaccumulation.
D. overconsumption.
5. Thebscarcitybprinciplebindicatesbthat
A. nobmatterbhowbmuchbonebhas,bitbisbneverbenough.
B. comparedbtob100byearsbago,bindividualsbhaveblessbtimebtoday.
C. withblimitedbresources,bhavingbmorebofb"this"bmeansbhavingblessbofb"that."
D. becausebtradeoffsbmustbbebmade,bresourcesbarebthereforebscarce.
,6. Theblogicalbimplicationbofbthebscarcitybprinciplebisbthat
A. onebwillbneverbbebsatisfiedbwithbwhatbonebhas.
B. asbwealthbincreases,bmakingbtradeoffsbbecomesblessbnecessary.
C. asbwealthbdecreases,bmakingbtradeoffsbbecomesblessbnecessary.
D. choicesbmustbbebmade.
7. Ifballbthebworld'sbresourcesbwerebtobmagicallybincreaseb100bfold,bthen
A. thebscarcitybprinciplebwouldbstillbgovernbbehavior.
B. economicsbwouldbnoblongerbbebrelevant.
C. thebscarcitybprinciplebwouldbdisappear.
D. tradeoffsbwouldbbecomebunnecessary.
8. Thebprinciplebofbscarcitybappliesbto
A. thebpoorbexclusively.
B. allbconsumers.
C. allbfirms.
D. everyone;bconsumers,bfirms,bgovernments,bandbnations.
, 9. Atbthebverybleast,bpoorbandbwealthybindividualsbarebidenticallyblimitedbby
A. theirbwealth.
B. theb24bhoursbthatbcomprisebabday.
C. theirbknowledge.
D. theirbinfluence.
10. Forestbisbabmountainbmanblivingbinbcompletebisolation.bHebisbcompletelybself-
sufficientbthroughbhunting,bfishing,bandbfarming.bHebhasbnotbbeenbinbthebcitybtobbuybanythingbinbfive
years.bOnebcanbinfer
b
A. thebscarcitybprinciplebdoesbnotbapplybtobForest.
B. Forestbisbnotbrequiredbtobmakebchoices.
C. thebscarcitybprinciplebstillbappliesbbecausebmorebhuntingbmeansblessbfishingbandbfarming.
D. Forestbisbverybsatisfied.
11. Thebscarcitybprinciplebappliesbto
A. allbdecisions.
B. onlybmarketbdecisions,be.g.,bbuyingbabcar.
C. onlybnon-marketbdecisions,be.g.,bwatchingbabsunset.
D. onlybthebpoor.
