answer these multiple choice questions about business and econ: I stayed after practice for extra work even though I got home late, I felt the extra work would help me next game. I stayed after practice for extra work even though I got home late, I f

Here are the answers to your multiple-choice questions about business and economics: 1. **I stayed after practice for extra work even though I got home late, I felt the extra work would help me next game.** - **Answer: Thinking at the Margin** 2. **Things that motivate a decision and change economic behavior.** - **Answer: Incentives** 3. **According to the "Invisible Hand Theory" the Government should play a big role in economic activities.** - **Answer: False** 4. **_____________ is what consumers give up when they make a choice.** - **Answer: Opportunity Cost** 5. **TINSTAAFL means consumers must make choices or trade-off.** - **Answer: True** 6. **The Production Possibilities Curve shows how an economy might use its resources to produce two goods.** - **Answer: True** 7. **The extra satisfaction obtained from 1 more unit of a product or service** - **Answer: Marginal Utility** 8. **Scarcity and Shortages can both lead to inflation.** - **Answer: True** 9. **A measure of satisfaction or value from a decision** - **Answer: Utility** 10. **Inefficient Production occurs when someone is performing within the production possibilities curves.** - **Answer: True** 11. **The more we consume of something, the less satisfaction we will get from each additional unit of it** - **Answer: Law of Diminishing Marginal Utility** 12. **____________ enables the distribution and allocation of resources in a society.** - **Answer: Markets Facilitate Trade** 13. **A heat wave leads to a decreased amount of apples this season.** - **Answer: Shortage** 14. **Adam Smith is considered the "Father of ___________________."** - **Answer: Capitalism** Feel free to ask if you have more questions!