Quiz Practice

This quiz relates to the following lesson objectives:

• Describe the basic economic questions that any society must answer
• Explain the core ideas that combine to make up the economic way of thinking
• Explain the way the three basic economic questions influence goods and services in the global economy
• Describe how specialization and trade affect the expansion of production possibilities
• Apply the concept of opportunity cost to the tradeoffs we make when dealing with scarcity

Read the following before entering the Quiz Practice:

• There is no time limit for the Quiz Practice.
• Once you achieve an 80% or higher on this Quiz Practice you will be allowed to advance to this lesson's Quiz.
• If you do not pass this Quiz Practice with an 80% or higher within 5 tries, you will not be eligible to take the graded quiz and must move to the next lesson.
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Submitting Your Quiz Practice:

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