Midterm
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The study of scarcity and choices
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| Scarcity | show 🗑
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| Factors of Production | show 🗑
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| Land | show 🗑
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| show | Human labor
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| Capital | show 🗑
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| Entrepreneurship | show 🗑
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| show | individuals and firms allocate resources (Australia)
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| Centrally Planned Economy | show 🗑
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| show | What to produce? How to Produce? Who gets it?
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| show | 1.) Society and individuals face trade-offs
2.) Opportunity costs - what you give up to get something (implicit and explicit)
3.) People respond to incentives
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| Positive Statement | show 🗑
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| show | Cant be rejected or accepted with the data. It depends on values and judgement- how the world should be. (Example "unemployment is low"
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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