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Dwnload Full Microeconomics 9th Edition Parkin Test Bank PDF
Dwnload Full Microeconomics 9th Edition Parkin Test Bank PDF
https://testbankfan.com/download/microeconomics-9th-edition-parkin-test-bank/
Exam
Name___________________________________
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
2) An incentive 2)
A) could be either a reward or a penalty.
B) could be a penalty but could not be a reward.
C) is the opposite of a tradeoff.
D) could be a reward but could not be a penalty.
Answer: A
6) Economics is best defined as the study of how people, businesses, governments, and societies 6)
A) use their infinite resources. B) choose abundance over scarcity.
C) make choices to cope with scarcity. D) attain wealth.
Answer: C
13) When an economist talks of scarcity, the economist is referring to the 13)
A) ability of society to employ all of its resources.
B) inability of society to satisfy all human wants because of limited resources.
C) ability of society to continually make technological breakthroughs and increase production.
D) ability of society to consume all that it produces.
Answer: B
2
16) Scarcity exists because 16)
A) of the inefficient choices we make.
B) poor people need more food and other goods.
C) our wants exceed the resources available to satisfy them.
D) society and people are greedy and wasteful.
Answer: C
19) Scarcity is common to all economic systems because resources are 19)
A) unlimited due to constant technological advances.
B) unlimited and so are human desires and wants.
C) limited and so are human desires and wants.
D) limited, but human desires and wants are unlimited.
Answer: D
22) When a wealthy businessman is unable to buy tickets to the Super Bowl, he or she experiences 22)
________.
A) opportunity costs B) scarcity
C) economics D) the fallacy of composition
Answer: B
23) In every economic system, choices must be made because resources are ________ and our wants are 23)
________
A) limited; limited B) unlimited; unlimited
C) unlimited; limited D) limited; unlimited
Answer: D
3
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The Project Gutenberg eBook of Chambers's
Journal of Popular Literature, Science, and Art,
fifth series, no. 130, vol. III, June 26, 1886
This ebook is for the use of anyone anywhere in the United
States and most other parts of the world at no cost and with
almost no restrictions whatsoever. You may copy it, give it away
or re-use it under the terms of the Project Gutenberg License
included with this ebook or online at www.gutenberg.org. If you
are not located in the United States, you will have to check the
laws of the country where you are located before using this
eBook.
Author: Various
Language: English