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QUIZ REVISION_PM

# QUIZ REVISION_PM - QUI Z REVI SI ON W hen a far mer decides...

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QUIZ REVISION

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When a farmer decides to harvest his crop with the aid of a machine he is answering _____. 1. The What question. 2. The Whom question. 3. The How question. 4. The Why question. 10
You spend \$2000 on a 1 week vacation, if you had stayed at home you would have earned \$1,000 at your job, eaten \$100 of your parents food, and earned \$100 shoveling snow; what is the opportunity cost of the vacation? 1. \$1,100 2. \$1,200 3. \$2,000 4. \$3,200 10

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Given point A (10, 12) and point B (12, 8) what is the opportunity cost of producing the 11 th unit of X? 1. 4 2. 2 Y 3. 2 X 4. 4 Y 10
Say the price of X is \$2.00 and the price of Y is \$1.00; and the price of Y rises, then the relative price of X ___ 1. Falls 2. Rises 3. Remains the same 4. Uncertain

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QUIZ REVISION_PM - QUI Z REVI SI ON W hen a far mer decides...

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