APUS ECON 101 Unit 1 Quiz

1. The branch of economics that examines the impact of choices on aggregates in the economy is:

2. When we are forced to make choices we are facing the concept of

3. An economic system is the set of rules that define _______ and _______

4. In a market capitalist economy

5. The branch of economics that examines the choices of consumers and firms is

6. Scarcity in economics means:

7. In a command socialist economy

8. The basic concern of economics is

9. Whenever a choice is made

10. Economics is different from other social sciences because it gives special emphasis to the study of ______; it is similar to other social sciences because they are all concerned with the study of _______