Unit 1.2
Quiz by Angela Anderson
Feel free to use or edit a copy
includes Teacher and Student dashboards
Measure skillsfrom any curriculum
Measure skills
from any curriculum
Tag the questions with any skills you have. Your dashboard will track each student's mastery of each skill.
With a free account, teachers can
- edit the questions
- save a copy for later
- start a class game
- automatically assign follow-up activities based on students’ scores
- assign as homework
- share a link with colleagues
- print as a bubble sheet
9 questions
Show answers
- Q1Monetary or non-monetary gain received because of an action taken or a decision made; what satisfies your wants.Benefit20s
- Q2What must be given up to obtain something. The effort, loss or sacrifice necessary to achieve or obtain something.Cost20s
- Q3The additional gain from consuming or producing one more unit of a good or service; can be measured in dollars or satisfaction. The benefit gained by consuming one more of something.Marginal benefit20s
- Q4The increase in a producer's total cost when it increases its output by one unit. The cost incurred by consuming one more of something.Marginal cost20s
- Q5A process of examining the benefits (positive results) and costs (what is given up - lost benefits) of each available alternative in arriving at a decision.Cost-benefit analysis20s
- Q6A widely observed relationship in which the additional satisfaction (marginal utility) associated with consuming additional units of the same product in a given amount of time eventually declines.Diminishing marginal utility20s
- Q7A decision-making tool for comparing the additional or marginal benefits of a course of action to the additional or marginal costs.Marginal analysis20s
- Q8the unexpected and unplanned results of a decision or action.Unintended consequence20s
- Q9Optimal quantity to maximize profitsMB=MC30s