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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define economics in one sentence.
💡 Hint: Think about what resources are and how they are used.
Question 2
Easy
What does scarcity mean?
💡 Hint: Consider how wants can exceed the available resources.
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 is economics primarily concerned with?
- Resource allocation
- Entertainment
- Sports
💡 Hint: Think about how people and societies use resources.
Question 2
True or False: Opportunity cost refers to the value of the next best alternative when making a choice.
- True
- False
💡 Hint: Consider choices in your life.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A community has a budget of $10,000 to allocate for health, education, and infrastructure. Each segment has different needs. Design a resource allocation plan that addresses the most urgent issues.
💡 Hint: Consider the impact of each sector on overall welfare.
Question 2
If a company faces increasing material costs but wants to maintain its profit margin, how should it respond? Discuss economically sound strategies.
💡 Hint: Remember to consider market reactions and consumer behavior.
Challenge and get performance evaluation