Quiz 1 results page 1

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American Military University *

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201

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Economics

Date

Feb 20, 2024

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2

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Question 1 10 / 10 point The branch of economics that examines the impact of choices on aggregates in the economy is: Question options: positive economics. normative economics. macroeconomics. microeconomics. Question 2 10 / 10 points When we are forced to make choices we are facing the concept of: Question options: ceteris paribus. free goods. scarcity. the margin. Question 3 10 / 10 points An economic system is the set of rules that define _______ and _______ . Question options: resources; prices who gets to vote; when elections will be held market prices; factors of production how an economy's resources are to be owned; how decisions about the resources are to be made Question 4 0 / 10 points In a market capitalist economy: Question options: factors of production are owned privately and decisions about their use are basically made
by individuals. factors of production are owned by the government but decisions about their use are made privately. private ownership exists but decisions about resource allocation are usually made centrally by the government. there is no role for the government.
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