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CHAPTER 1: INTRODUCTION TO ECONOMICS MBA1192C

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This game test the student understanding about the definition of economics, the differences between microeconomics and macroeconomics, the basic concepts of economics, and the basic economic problem.

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Malasia
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CHAPTER 1: INTRODUCTION TO ECONOMICS MBA1192C
 

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CHAPTER 1: INTRODUCTION TO ECONOMICS MBA1192CVersión en línea

This game test the student understanding about the definition of economics, the differences between microeconomics and macroeconomics, the basic concepts of economics, and the basic economic problem.

por KHAIZIE SAZIMAH AHMAD
1

The reason that opportunity costs arise is that

2

Studying how Mary allocates her time between work and leisure is an example of

3

The main problems of economics arise because

4

The great increase in wage levels has led to the use of machinery in a particular production process". The statement above explains a basic economic problem of

5

'If we build an extra 200,000 houses this year, we shall have to build fewer schools and hospitals'. This statement illustrates the concept of

6

Which of the following statements is true?

7

The basic economic problem is

8

The general concern of economics is with the study of the

9

As a result of scarcity

10

Opportunity cost is the

11

Resources are limited and human wants are unlimited. This implies that

12

The best forgone alternative is also known as

13

A study on why a farmer chooses to grow dragon fruit instead of star fruit despite higher production costs would be considered as

14

Microeconomics is concerned with

15

Which of the following is not considered as resources in conventional economics?

16

The problem of scarcity is relevant to

17

The study of how wages are set for primary school teachers is considered as

18

Which of the following is concern with microeconomics?

19

Since resources are limited, not all wants and needs can be accomplished. Man has to choose and this involves making sacrification. In economic concept, sacrification is known as

20

The basic difference between microeconomics and macroeconomics is that

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