Chapter 01 Testbank
h h
Student:h
1. Economicshishbesthdefinedhashthehstudyhof
A. priceshandhquantities.
B. inflationhandhinteresthrates.
C.
howhpeoplehmakehchoiceshunderhthehconditionshofhscarcity.
D. wageshandhincomes.
2. Economichquestionshalwayshdealhwith
A. financialhmatters.
B. politicalhmatters.
C. insufficienthresources.
D.
choiceshinhthehfacehofhlimitedhresources.
,3. Thehrangehofhtopicshorhissueshthathfithwithinhthehdefinitionhofheconomicshis
A. limitedhtohmarkethactivities,he.g.,hbuyinghsoap.
B. limitedhtohindividualshandhfirms.
C. extremelyhwide,hrequiringhonlyhthehideashofhchoicehandhscarcity.
D. veryhlimited.
4. Thehcentralhconcernhofheconomicshis
A. poverty.
B. scarcity.
C. wealthhaccumulation.
D. overconsumption.
5. Thehscarcityhprinciplehindicateshthat
A. nohmatterhhowhmuchhonehhas,hithishneverhenough.
B. comparedhtoh100hyearshago,hindividualshhavehlesshtimehtoday.
C. withhlimitedhresources,hhavinghmorehofh"this"hmeanshhavinghlesshofh"that."
D. becausehtradeoffshmusthbehmade,hresourcesharehthereforehscarce.
,6. Thehlogicalhimplicationhofhthehscarcityhprinciplehishthat
A. onehwillhneverhbehsatisfiedhwithhwhathonehhas.
B. ashwealthhincreases,hmakinghtradeoffshbecomeshlesshnecessary.
C. ashwealthhdecreases,hmakinghtradeoffshbecomeshlesshnecessary.
D. choiceshmusthbehmade.
7. Ifhallhthehworld'shresourceshwerehtohmagicallyhincreaseh100hfold,hthen
A. thehscarcityhprinciplehwouldhstillhgovernhbehavior.
B. economicshwouldhnohlongerhbehrelevant.
C. thehscarcityhprinciplehwouldhdisappear.
D. tradeoffshwouldhbecomehunnecessary.
8. Thehprinciplehofhscarcityhapplieshto
A. thehpoorhexclusively.
B. allhconsumers.
C. allhfirms.
D. everyone;hconsumers,hfirms,hgovernments,handhnations.
, 9. Aththehveryhleast,hpoorhandhwealthyhindividualsharehidenticallyhlimitedhby
A. theirhwealth.
B. theh24hhourshthathcomprisehahday.
C. theirhknowledge.
D. theirhinfluence.
10. Foresthishahmountainhmanhlivinghinhcompletehisolation.hHehishcompletelyhself-
sufficienththroughhhunting,hfishing,handhfarming.hHehhashnothbeenhinhthehcityhtohbuyhanythinghinhfive
years.hOnehcanhinfer
h
A. thehscarcityhprinciplehdoeshnothapplyhtohForest.
B. Foresthishnothrequiredhtohmakehchoices.
C. thehscarcityhprinciplehstillhapplieshbecausehmorehhuntinghmeanshlesshfishinghandhfarming.
D. Foresthishveryhsatisfied.
11. Thehscarcityhprinciplehapplieshto
A. allhdecisions.
B. onlyhmarkethdecisions,he.g.,hbuyinghahcar.
C. onlyhnon-markethdecisions,he.g.,hwatchinghahsunset.
D. onlyhthehpoor.
h h
Student:h
1. Economicshishbesthdefinedhashthehstudyhof
A. priceshandhquantities.
B. inflationhandhinteresthrates.
C.
howhpeoplehmakehchoiceshunderhthehconditionshofhscarcity.
D. wageshandhincomes.
2. Economichquestionshalwayshdealhwith
A. financialhmatters.
B. politicalhmatters.
C. insufficienthresources.
D.
choiceshinhthehfacehofhlimitedhresources.
,3. Thehrangehofhtopicshorhissueshthathfithwithinhthehdefinitionhofheconomicshis
A. limitedhtohmarkethactivities,he.g.,hbuyinghsoap.
B. limitedhtohindividualshandhfirms.
C. extremelyhwide,hrequiringhonlyhthehideashofhchoicehandhscarcity.
D. veryhlimited.
4. Thehcentralhconcernhofheconomicshis
A. poverty.
B. scarcity.
C. wealthhaccumulation.
D. overconsumption.
5. Thehscarcityhprinciplehindicateshthat
A. nohmatterhhowhmuchhonehhas,hithishneverhenough.
B. comparedhtoh100hyearshago,hindividualshhavehlesshtimehtoday.
C. withhlimitedhresources,hhavinghmorehofh"this"hmeanshhavinghlesshofh"that."
D. becausehtradeoffshmusthbehmade,hresourcesharehthereforehscarce.
,6. Thehlogicalhimplicationhofhthehscarcityhprinciplehishthat
A. onehwillhneverhbehsatisfiedhwithhwhathonehhas.
B. ashwealthhincreases,hmakinghtradeoffshbecomeshlesshnecessary.
C. ashwealthhdecreases,hmakinghtradeoffshbecomeshlesshnecessary.
D. choiceshmusthbehmade.
7. Ifhallhthehworld'shresourceshwerehtohmagicallyhincreaseh100hfold,hthen
A. thehscarcityhprinciplehwouldhstillhgovernhbehavior.
B. economicshwouldhnohlongerhbehrelevant.
C. thehscarcityhprinciplehwouldhdisappear.
D. tradeoffshwouldhbecomehunnecessary.
8. Thehprinciplehofhscarcityhapplieshto
A. thehpoorhexclusively.
B. allhconsumers.
C. allhfirms.
D. everyone;hconsumers,hfirms,hgovernments,handhnations.
, 9. Aththehveryhleast,hpoorhandhwealthyhindividualsharehidenticallyhlimitedhby
A. theirhwealth.
B. theh24hhourshthathcomprisehahday.
C. theirhknowledge.
D. theirhinfluence.
10. Foresthishahmountainhmanhlivinghinhcompletehisolation.hHehishcompletelyhself-
sufficienththroughhhunting,hfishing,handhfarming.hHehhashnothbeenhinhthehcityhtohbuyhanythinghinhfive
years.hOnehcanhinfer
h
A. thehscarcityhprinciplehdoeshnothapplyhtohForest.
B. Foresthishnothrequiredhtohmakehchoices.
C. thehscarcityhprinciplehstillhapplieshbecausehmorehhuntinghmeanshlesshfishinghandhfarming.
D. Foresthishveryhsatisfied.
11. Thehscarcityhprinciplehapplieshto
A. allhdecisions.
B. onlyhmarkethdecisions,he.g.,hbuyinghahcar.
C. onlyhnon-markethdecisions,he.g.,hwatchinghahsunset.
D. onlyhthehpoor.
