Economics Review True or False Quiz

What was the 'Dark Age' period in West European history?

Why was the Dark Age called the Dark Ages?

Which tribes invaded the Western Roman Empire in the 5th Century AD?

What socio-economic and political order emerged during the Dark Ages?

Which group was part of the ruling class during the Dark Ages?

What system relates a higher lord to a lower lord in feudalism?

What best describes economics?

Which principle is the concept of opportunity cost based upon?

What does a point lying outside the production possibility frontier represent?

How can economic growth be achieved?

In which type of economy does economic freedom for consumers and producers exist?

What do most traditional economies produce?

In economics, the concept of choice becomes irrelevant when:

Which statement best describes the economic problem?

The production possibility frontier can be considered as a measure of:

Any point lying on a production possibility curve indicates:

A production possibility curve is best described as:

Which of the following is not a feature of a capitalist economy?

Which of the following is a feature of a command economy?

Which features persist in a mixed economy?

Which of the following best captures the three basic economic questions of every society?

In an economy producing only two goods X and Y, what does the production possibility frontier measure?