 TRIMESTRAL 2023   CASANDRA MAE LAMIGO

 UGRD-ECON6150-2023T

 Participants
UGRD-ECON6150 Microeconomics
Dashboard / My courses / UGRD-ECON6150-2023T / Week 1: Introduction to Microeconomics / PQ1
 Competencies

 Grades Quiz navigation

Started on Monday, 23 November 2020, 8:50 AM
State Finished
 ECON121 -
Completed on Monday, 23 November 2020, 8:55 AM CASANDRA MAE LAMIGO
Microeconomics Theory
and Practice Time taken 5 mins 46 secs 1 2 3 4 5 6 7 8 9
Marks 10.00/10.00
 Week 1: Introduction Grade 100.00 out of 100.00 10
to Microeconomics
Question 1 Individuals are assumed to select the alternative(s) that they believe will make them Finish review
 Week 2: History of Correct happiest, given the information that they possess at the time of the decision.
Microeconomics Mark 1.00 out of
1.00 Select one:
 Week 3: Theories of Flag question True 
Microeconomics
False

 Week 4: Prelim

 Week 5: Question 2 This is the inverse relationship exists between the price of a good and the quantity
Microeconomics Correct demanded in a given time period.
Production and Capital Mark 1.00 out of
Theory 1.00 Select one:
Flag question a. Comparative advantage

b. Monetary economy

c. Barter system

d. Law of demand 

Question 3 This is a market system in which goods or services are traded directly for other goods or
Correct services.
Mark 1.00 out of
1.00 Select one:
Flag question a. Barter system 

b. Monetary economy

c. Comparative advantage

d. Law of demand

Question 4 These are markets that demand for a product includes both domestic and foreign
Correct demand.
Mark 1.00 out of
1.00 Select one:
Flag question a. Monetary economy

b. Law of demand

c. Barter system

d. International markets 

Question 5 They argued that similar benefits accrue from international specialization and trade.
Correct

Mark 1.00 out of Select one:

1.00
a. Exchange rate
Flag question
b. Absolute advantage.

c. Adam Smith and David Ricardo 

d. Entrepreneurial ability

Question 6 Self-interested people may donate their time to charitable organizations, give gifts to
Correct loved ones, contribute to charities and engage in other similarly altruistic activities.
Mark 1.00 out of
1.00 Select one:
Flag question True 

False

Question 7 Economic good is if the quantity of the good demanded exceeds the quantity supplied at
Correct a zero price.
Mark 1.00 out of
1.00 Select one:
Flag question True 

False

Question 8 Goods that are used to produce other goods or services are called economic growth and
Correct are also known as inputs or factors of production.
Mark 1.00 out of
1.00 Select one:
Flag question True

False 

Question 9 The category of "land" includes all natural resources wherein these natural resources
Correct include the land itself, as well as any minerals, oil deposits, timber, or water that exists on
Mark 1.00 out of or below the ground.
1.00

Flag question Select one:

True 

False

Question 10 This individual trade goods or services for money and then use this money to buy the
Correct goods or services that they wish to acquire.
Mark 1.00 out of
1.00 Select one:
Flag question a. Barter system

b. Comparative advantage

c. Monetary economy 

d. Law of demand

Finish review

◄ Lesson 1: Introduction to Lesson 1: Introduction to

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