Syllabus of Economics/Scarcity and economic interactions - Q & A

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This page is a place for people to enter exam questions and answers for a syllabus module that is part of the Introductory Microeconomics syllabus in Wikiversity's School of Economics. If you would like to help with this learning project, you might like to adding questions and answers (or by helping verify existing questions and answers) to the test bank of questions and answers below for this module. Just add the questions and answers to this page. Later, the plan is to convert these questions and answers on some linked pages using the WikiMedia quiz extension. Other ways you could help are by entering links to relevant Wikipedia entries or other useful learning materials into the Introductory Microeconomics syllabus page or by adding questions and answers for the other modules listed on the Introductory Microeconomics  syllabus page.

Questions and Answers

What generally drives consumers in economic theory is ___, while what generally drives producers is ___.

A. minimized cost; maximized profit.

B. maximized utility; maximized profit.

C. minimized cost; maximized sales.

D. maximized utility; maximized sales.

ANSWER: B