Economics Apex Final UPDATED ACTUAL
Exam Questions and CORRECT Answers
Which of the following best describes cost-benefit analysis? - CORRECT ANSWER -A
process or of maximizing benefits of minimizing costs
Which of the following best describes the purpose of using cost-benefit analysis? - CORRECT
ANSWER - To make decisions and maximize benefits
Which of the following is a simple way of describing cost-benefit analysis? - CORRECT
ANSWER - Making a decision by listing pros and cons
Which of the following lists some of the non-monetary factors that are taken into account when
doing cost-benefit analysis? - CORRECT ANSWER - time and effort
Which of the following best explains why any determination of cost must go beyond counting
the money involved? - CORRECT ANSWER - Calculations of cost and benefit are
subjective
Which of the following statements accurately describes how costs and benefits are calculated? -
CORRECT ANSWER - Calculations of cost and benefits are based on personal
preferences
What is one reason that people want to minimize costs? - CORRECT ANSWER - Costs
are often bad things that people don't want to accept
Which of the following is true of decisions made using cost-benefit analysis? - CORRECT
ANSWER - The best decision results in the most benefits with the fewest costs
Which of the following is the purpose of economic indicators? - CORRECT ANSWER -
To judge the overall condition of a particular country's economy
Exam Questions and CORRECT Answers
Which of the following best describes cost-benefit analysis? - CORRECT ANSWER -A
process or of maximizing benefits of minimizing costs
Which of the following best describes the purpose of using cost-benefit analysis? - CORRECT
ANSWER - To make decisions and maximize benefits
Which of the following is a simple way of describing cost-benefit analysis? - CORRECT
ANSWER - Making a decision by listing pros and cons
Which of the following lists some of the non-monetary factors that are taken into account when
doing cost-benefit analysis? - CORRECT ANSWER - time and effort
Which of the following best explains why any determination of cost must go beyond counting
the money involved? - CORRECT ANSWER - Calculations of cost and benefit are
subjective
Which of the following statements accurately describes how costs and benefits are calculated? -
CORRECT ANSWER - Calculations of cost and benefits are based on personal
preferences
What is one reason that people want to minimize costs? - CORRECT ANSWER - Costs
are often bad things that people don't want to accept
Which of the following is true of decisions made using cost-benefit analysis? - CORRECT
ANSWER - The best decision results in the most benefits with the fewest costs
Which of the following is the purpose of economic indicators? - CORRECT ANSWER -
To judge the overall condition of a particular country's economy
