Unit 1: Basic Economic Concepts

/ Unit 1: Basic Economic Concepts

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Question Difficulty:

Question	Difficulty	Students Solved
Scarcity and Societal Trade-Offs	easy	26
Comparative Advantage and Gains from Trade	easy	23
Tax Decrease Impact on Market Equilibrium	easy	15
The Economic Concept of Scarcity	easy	16
Determinants Of Demand	easy	9
Determinants of Long-Run Economic Growth	easy	7
Points on the Production Possibilities Curve	easy	8
Input Prices and Market Equilibrium	easy	5
Demand Increase and Equilibrium Price	easy	8
Defining Economic Growth and Contraction	easy	9
Effect of Price Expectations on Demand	easy	7
Calculating Opportunity Cost	easy	8
Technological Change and Supply	easy	3
Production Possibilities Curve and Labor Force	easy	6
Definition of Absolute Advantage	easy	2
Technological Advancement and Market Equilibrium	easy	2
Change in Demand Definition	easy	1
Production Possibilities Curve and Resource Availability	easy	2
Supply Curve Shift From Input Costs	easy	2
Taxes and the Supply Curve	easy	2

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