Question

1) Hypothesize, test, cause and effect relationship

Which isn't a hypothesis for the dramatic increase in world population?

(a) The invention of antibiotics

(b) Increased life expectancy

(c) The invention of the printing press

2) Which of the following isn't an important Macroeconomic or Political area that allows a society to progress

(a) Productive advances in agriculture

(b) Free Market Economic Systems

(c) Availability of knowledge

(d) Maintaining Power over society

(e) Access to knowledge

3) 2 Economic Systems that Adam Smith and Karl Marx developed-advanced

(a) Democracy and Capitalism   

(b) Capitalism and Open Economy

(c) Capitalism and Socialism

(d) Socialism and Communism

4) Match the Economic Concepts

(efficient allocation of scarce resources, both parties are better off, a situation in which you can't have both, limited nature of societies resources)

(a) Economics

(b) Trade-offs      

(c) Opportunity Cost      

(d) Scarcity         

Answer 1

Answer-1. Correct option is 'C'

The invention of the printing press isn't a hypothesis for the dramatic increase in world population.

Hypothesis for the dramatic increase in world population are as follows :

a) The invention of antibiotics : Antibiotics, also known as antibacterial, are medications that destroy or slow down the growth of bacteria. It is used to treat diseases caused by bacteria. It increase in world population.

b) Increased life expectancy : An increased life expectancy was driven mainly by improvements in sanitation, housing and education, causing a steady decline in early and mid-life mortality.

Answer-2. Correct option is 'D'

Maintaining Power over society isn't an important Macroeconomic or Political area that allows a society to progress.

Following are the important for the Macroeconomic or Political area that allows a society to progress:

a) Productive advances in agriculture

b) Free Market Economic Systems

c) Availability of knowledge

e) Access to knowledge

Answer-3. Correct option is 'C'

2 Economic Systems that Adam Smith and Karl Marx developed-advanced are Capitalism and Socialism.

Socialism : Karl Marx described a socialist society. The same amount of labor which he has given to society in one form, he receives back in another. Socialism is a post-commodity economic system and production is carried out to directly produce use-value rather than toward generating profit.

Capitalism : Adam Smith is considered the first theorist of what we commonly refer to as capitalism. ... Smith asserts that when individuals make a trade they value what they are purchasing more than they value what they are giving in exchange for a commodity.

Answer-4. Correct option is 'D'

Trade-offs is an efficient allocation of scarce resources, both parties are better off, a situation in which you can't have both, limited nature of societies resources. Trade-off denotes the option we give up, to obtain what we want. trade-off for every decision you make help ensure that you are using your resource wisely.