Opportunity Cost - Quiz Quiz Answers

Opportunity cost occurs because of a producer’s need to

Which of these has the largest impact on opportunity cost?

Which of these lists the proper placement of terms to complete the equation?

What is Ricardo’s opportunity cost? Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.

Producers can create their maximum combination of goods, as long as they

Which of these are examples of limited resources on the part of consumers?

What is Ricardo’s opportunity cost? Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.

How many potted plants should they be able to produce on Day 3?

Demonstrating opportunity cost is done through production

Which of these are examples of limited resources on the part of consumers?

Producers can create their maximum combination of goods, as long as they

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Producers can create their maximum combination of goods, as long as they

On a production possibility curve, data points that fall outside of the curve represent

Which of these has the largest impact on opportunity cost?

Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Choose two correct answers.

Rescooperate Ice Cream Shop recently analyzed their books. They found that in the past year, they made $100,000 selling ice cream and spent $75,000 on supplies and factory space. The remaining $25,000 represents

Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Choose two correct answers.

Opportunity cost occurs because of a producer’s need to

Which of these are examples of limited resources on the part of consumers?

What is Ricardo’s opportunity cost? Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.

Demonstrating opportunity cost is done through production

Opportunity cost occurs because of a producer’s need to

How does a production possibility chart assist in outlining opportunity cost?

How does a production possibility chart assist in outlining opportunity cost?

What is Ricardo’s opportunity cost? Ricardo works part time at a local computer store. One day, his manager approaches him about moving from cashier to floor supervisor. Ricardo is excited because the promotion comes with a raise; however, the extra work hours would take away from time with his friends and family. In the end, he decides to take the promotion.

Rescooperate Ice Cream Shop recently analyzed their books. They found that in the past year, they made $100,000 selling ice cream and spent $75,000 on supplies and factory space. The remaining $25,000 represents

Rescooperate Ice Cream Shop recently analyzed their books. They found that in the past year, they made $100,000 selling ice cream and spent $75,000 on supplies and factory space. The remaining $25,000 represents

Which of these has the largest impact on opportunity cost?