Week 1 Quiz Review
1) Solve: x + 79 = 194
Answer: 115
2) Solve: x  56 = 604
3) Solve: 6x = 36
4) Solve: x / 5 = 10
5) Solve the Problem: 6/1 ÷ 2/3
6) Problem: 3/4 * 6/7
7) Graph: y = 2x + 1
(use values of X= 0,1,2,1)
8) Simplify: (5)^3
9) Simplify: 3
3
 (3)
2
+ (2)
2
10)
Opportunity cost is best defined as:
A) The amount given up when choosing one activity over the next best alternative.
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View Full DocumentB) The opportunity to earn a profit that is greater than the one currently being made.
C) The amount that is given up when choosing an activity that is not as good as the next
best alternative.
D) The amount given up when choosing one activity over all other alternatives.
11)
In a market economy, which of the following is the most important factor affecting
scarcity?
A) The needs and wants of consumers
B) The price of the product
C) The degree to which the government is involved in the allocation of resources.
D) All of the above are equally important.
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 Spring '09
 Gooding
 Supply And Demand, memory chips

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