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Principles of Economics Quiz

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Questions and Answers

What is the study of scarcity and choice?

Microeconomics (correct)

Mathematical economics

Behavioral economics

Macroeconomics

Which type of economics focuses on the economy as a whole?

Labor economics

Macroeconomics (correct)

Development economics

Environmental economics

What is the primary concern of resource allocation in economics?

Efficient use of scarce resources (correct)

Maximizing government revenue

Ensuring environmental sustainability

Minimizing consumer spending

In economics, what is the idea that there is no such thing as a free lunch known as?

<p>Opportunity cost</p> Signup and view all the answers

Principles of Economics Quiz

Choose a study mode

Podcast

Questions and Answers

What is the study of scarcity and choice?

Which type of economics focuses on the economy as a whole?

What is the primary concern of resource allocation in economics?

In economics, what is the idea that there is no such thing as a free lunch known as?

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