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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a budget set?
💡 Hint: Think about what your money can buy.
Question 2
Easy
Describe the budget line.
💡 Hint: Consider what happens when you spend all your money.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does the budget line represent?
- All goods a consumer can afford
- Goods costing exactly the consumer's income
- The total income available to a consumer
💡 Hint: Think about what happens when you use all your money.
Question 2
True or False: Increasing the price of one good will always shift the budget line outward.
- True
- False
💡 Hint: What does higher prices mean for what you can afford?
Solve 2 more questions and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
If a consumer has $50 and spends $10 on mangoes, how much can they spend on bananas priced at $5?
💡 Hint: Subtract the spending and divide the remaining money by the price of bananas.
Question 2
What happens to the consumer's budget constraint if income doubles but prices remain constant?
💡 Hint: Think about how more money correlates to more options!
Challenge and get performance evaluation