Economics help please!!! :) Thank you!!!?

[hrafn]

1. What is the opportunity cost of a decision? (1 point)
the series of alternative decisions that could have been made
the best possible way the question could have been decided
the different ways that a different person might have made the decision
the most desirable alternative given up for the decision
2. What is the purpose of competition? (1 point)
to act as a regulating force in the marketplace
to cause producers to attempt to put each other out of business
to cause buyers to have to be careful about spending their money
to act as a motivating force behind the free market
3. What incentive motivates a manufacturer to sell a product? (1 point)
making profits on sales
putting others out of business
pleasing the consumer
popularity of the product
4. All of the following are types of decisions that can be made at the margin EXCEPT (1 point)
whether to grow beans or corn on a large farm.
whether or not to hire 100 new workers.
whether to leave early in the morning or late in the day for a trip.
whether or not to go on a vacation.
5. Which of the following is a critical rule for determining whether something is a public good? (1 point)
The benefit to each individual who uses the facility is greater than the cost.
The benefits of the facility are greater for the society than for the individuals using it.
The total benefits to society are greater than the total cost.
The total cost is small for each individual taxpayer.
6. What best describes the role of government in a free enterprise system?
(1 point)
Control business activities.
Decide what companies will be formed and then allow the managers to run them.
Allow individuals to operate their businesses in ways they think will maximize their profits.
Require companies to disclose information to consumers.
7. The government of a country must make a decision between increasing military spending and subsidizing wheat farmers. This kind of decision is a (1 point)
guns or butter issue.
decision at the margin.
global trade-off.
basic economic decision.
8. What is one benefit provided by Social Security? (1 point)
medical care for the indigent
cash transfers to workers injured on the job
compensation for all who lose jobs
retirement income for the elderly
9. The resources used to make all goods and services are the (1 point)
production possibilities.
factors of production.
production trade-offs.
opportunity costs.
10. What is positive externality? (1 point)
a way to generate trade that will benefit people who are from other countries
an economic side effect that generates unexpected benefits
a cash flow that will benefit both the government and the businesses who interact with it
an extra payment to welfare recipients

[stein74]

1) answer 4
2) answer 1
3) answer 1
4) answer 2
5) answer 3
6) answer 3
7) answer 3 trading wheat subsidies for national security. Actually this is an opportunity cost.
8) answer 4
9) answer 2
10) answer 2