Question 9
10 / 10 points
Economics is different from other social sciences because it gives special emphasis to the study of ______; it is similar to other social sciences because they are all concerned with the study of _______.
Question options:
unlimited resources; economic systems
human interactions; limited resources
opportunity costs; choices
social behavior; scarcity
uestion 10 / 10 points
(Exhibit: Production Possibilities Curve-Military and Civilian Goods) A movement from point G to H on Curve 1 would:
Question options:
require giving up military goods in order to get more civilian goods.
indicate that, in this economy, there is no scarcity.
require giving up civilian goods to get more military goods.
require greater efficiency in the production of civilian goods.
Question 11
10 / 10
points
(Exhibit: Production Possibilities Curve-Military and Civilian Goods) If an economy is at point U, and its production possibilities curve is Curve 1, this
would indicate that:
Question options:
resources are fully employed.
economic growth has taken place.
there is inefficiency and/or unemployment.
the economy is maximizing its economic objectives.
Question 12
10 / 10
points
(Exhibit: Production Possibilities Curve-Military and Civilian Goods) If the economy is represented by Curve 1, then:
