Question 1
The above diagram represents the production possibilities of Country A and Country B, with the use of the same resources. Which of the following would be true for both Country A and Country B?
Correct Answer:
Country A has a comparative advantage in DVD players and Country B has a comparative advantage in TVs.
Explanation:
Correct answer: Country A has a comparative advantage in DVD players and Country B has a comparative advantage in TVs.
Question 2
Economists use the term “capital” to mean
Correct Answer:
plant and equipment.
Explanation:
Correct answer: plant and equipment.
Question 3
Production possibilities frontiers are concave to the origin because
Correct Answer:
of the law of increasing costs.
Explanation:
Correct answer: of the law of increasing costs.
Question 4
Given the following table (combinations that can be produced using resources fully and efficiently), the opportunity cost of apples is
Correct Answer:
10/7 oranges.
Explanation:
Correct answer: 10/7 oranges.
Question 5
Economics is a social science that
Correct Answer:
is primarily concerned with how resources are used.
Explanation:
Correct answer: is primarily concerned with how resources are used.
Question 1
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About this Exam

Prepare with the AP Microeconomics Unit 1 Practice Test practice quiz. This question bank includes 21 questions covering production, cost, possibilities, country, and table. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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AP Microeconomics Unit 1 Practice Test

This practice set contains 21 questions from the matching question bank and focuses on production, cost, possibilities, country, and table. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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