Opportunity cost and the production possibility curve
Quiz Summary
0 of 4 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 4 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- Current
- Review
- Answered
- Correct
- Incorrect
- Question 1 of 4
1. Question
In 2016, the Philipines experiences a tsunami that had a devastating effect on the economy. How might this be shown on a production possibility curve (PPC) ?
CorrectIncorrect - Question 2 of 4
2. Question
A construction worker has been offered three new jobs. The worker ranks the jobs in preferred order and decides to take a job as lorry driver. What might be the opportunity cost?
CorrectIncorrect - Question 3 of 4
3. Question
A student decides to go to college to study A levels. The fees will be $1,000 a year for two years. The student’s alternative is to get a job that will pay $5,000 a year. What is the opportunity cost of going to college?
CorrectIncorrect - Question 4 of 4
4. Question
Using all available resources in the economy produces different combinations of capital goods
and consumer goods as shown on its production possibility curve (PPC) diagram below.What is the opportunity cost of increasing the production of consumer goods from A to B?
CorrectIncorrect