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Classroom Activity: Production Possibilities Quiz

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A slide deck for an in-class activity quiz on the production possibilities curve.

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Classroom Activity: Production Possibilities Quiz

1. 1. PRODUCTIONPOSSIBILITIESQUIZ
2. 2. PRODUCTION POSSIBILITIES QUIZ#1   True or False?   Point A represents bicycles the amounts of cars and bicycles that A will be sold. cars
3. 3. PRODUCTION POSSIBILITIES QUIZ#2   True or False?   As you move from bicycles point F to point G the price of bicycles G increases. F cars
4. 4. PRODUCTION POSSIBILITIES QUIZ#3   True or False?   Movement along the bicycles curve from point C to C point A shows us the A opportunity cost of producing more bicycles. cars
5. 5. PRODUCTION POSSIBILITIES QUIZ#4   True or False?   If we have high bicycles unemployment then the curve shifts in.   ? cars
6. 6. PRODUCTION POSSIBILITIES QUIZ#5   True or False?   If an improved bicycles process for ? manufacturing cars is introduced, then the entire curve will shift out. cars
7. 7. PRODUCTION POSSIBILITIES QUIZANSWERS#1   True or False?   Point A represents the bicycles amounts of cars and bicycles that will be sold. A ANSWER: False. It represents how many cars and bicycles are produced! cars
8. 8. PRODUCTION POSSIBILITIES QUIZANSWERS#2   True or False?   As you move from point F to bicycles point G the price of bicycles increases. G ANSWER: False. The number F of bicycles produced increases. cars
9. 9. PRODUCTION POSSIBILITIES QUIZANSWERS#3   True or False?   Movement along the curve bicycles from point C to point A shows us the opportunity cost of C producing more bicycles. A ANSWER: False. It represents the opportunity cost of producing more cars. cars
10. 10. PRODUCTION POSSIBILITIES QUIZANSWERS#4   True or False?   If we have high unemployment then the curve shifts in. bicycles ANSWER: False. Unemployment means that not everyone is working so production is inside the PPC. ? The PPC stays put since it represents the maximum output if all resources are being used to the fullest. cars
11. 11. PRODUCTION POSSIBILITIES QUIZANSWERS#5   True or False?   If an improved process for bicycles manufacturing cars is introduced, then the entire curve will shift out. ? ANSWER: False. The curve only moves out along the car- axis. It is not possible to make more bicycles than before. cars
12. 12. dirkmateer.com