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Economic (Exams) - Review Assessment chapter 1 and 2...

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Review Assessment: chapter 1 and 2 Submitted 1/12/08 9:15 PM Name chapter 1 and 2 Status Completed Score 13 out of 15 points Time Elapsed 0 hours, 20 minutes, and 0 seconds out of 1 hours and 45 minutes allowed. Instructions Note, you can open the quiz only once. Good luck. Question 1 1 out of 1 points Which of the following is the best statement about markets? Selected Answer: Markets are usually a good way to organize economic activity. Correct Answer: Markets are usually a good way to organize economic activity. Question 2 1 out of 1 points The opportunity cost of an item is Selected Answer: what you give up to get that item. Correct Answer: what you give up to get that item. Question 3 1 out of 1 points Figure 2-10 Refer to Figure 2-10. The price of roses and the quantity of roses are Selected Answer: inversely related and therefore move in opposite directions. Correct Answer: inversely related and therefore move in opposite directions.
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