2:09 Done MODULE NEW EXERCIS... Q A Good A Good B 1. The PPC like the one shown above, means that there is A no opportunity cost when making an economic choice B. a decreasing opportunity cost when increasing the output of one good C, a constant opportunity cost when increasing the output of one good D. an increasing opportunity cost when increasing the output of one good 12. The basic economics concepts include A land, labor, capital and entrepreneur B. what, how and how much to produce C, elastic and inelastic D. scarcity. choice and opportunity cost PEC1133 D MICROECONOMICS Chapter 1: introduction to Economics Use the figure below to answer the questions Type of good B CDEF G Consumer goods 36 30 24 18 12 6 0 Capital goods 0 15 23 26 28 29 30 13. The production possibilities curve for the economy depicted in the table is_ A. a downward sloping straight line. B. a downward-doping line that is concave to the origin of the graph. C, an upward-sloping straight line. D. a downward-sloping line that is bowed inwards towards the origin of the graph. 14, For an economy that chooses combination C in the table, the opportunity cost of producing six extra units of consumer goods would be A 23 fewer units of capital goods B. eight fewer units of capital goods. C. three fewer units of capital goods D. eight more units of capital goods 15, Which of the following is a characteristics of capitalism A an economic system characterized by private ownership of resources and market B. an economic system that include a mixture of command and market system. C. a system that answers the what, how, and for whom question by central authority D. an economic system that follows the syariah. 16. Which of the following might be considered to be a characteristic of a planned economy? A. There is no incentive for people to work hard. B. Goods and services produced reflect consumer sovereignty. C. Price is relatively unimportant as a means of allocating resources, D. All income is completely evenly distributed