Download NAEP released item, Grade 12

Which of the following best describes the amount of a product that people will
continue to buy at a given price?
A) People will buy as many units as they can afford.
B) People will buy another unit unless its benefit is zero.
C) People will buy another unit as long as its benefit is positive.
D) People will buy another unit as long as its benefit is greater than its cost.
NAEP released item, Grade 12 Key
Which of the following best describes the amount of a product that people will
continue to buy at a given price?
A)
People will buy as many units as they can afford.
B)
People will buy another unit unless its benefit is zero.
C)
People will buy another unit as long as its benefit is positive.
D)
People will buy another unit as long as its benefit is greater than its cost.
NAEP released item, Grade 12 2006 National Performance Results
Score
Percentage of Students
Correct
56%
Incorrect
Omitted
44%
1%
Note:
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These results are for public and nonpublic school students.
Percentages may not add to 100 due to rounding.
Content Area
The Market Economy
Content area includes
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the relevance of limited resources,
how individuals and institutions make and evaluate decisions,
the role of incentives,
how buyers and sellers interact to create markets,
how markets allocate resources, and
the economic role of government in a market economy.
Economically literate grade 12 students are able to identify what tradeoffs they face—what they gain
and what they give up when they consider alternatives and make choices. Doing so informs their
decisions, helping them choose alternatives that promote their goals as consumers, producers,
savers, investors, and citizens. They can identify incentives that affect people's behavior and explain
how incentives affect their own behavior. In addition, these students can
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describe how the interaction of buyers and sellers in markets influences prices and output
levels;
describe the likely effects of plans for education, training, and career options on future
earnings and can identify the risks, returns, and other characteristics of entrepreneurship that
bear on its attractiveness as a career; and
describe the roles of economic institutions, such as legal systems, private property, labor
unions, and corporations.
NAEP released item, Grade 12 Cognitive Levels
Knowing
Measures students' abilities to identify and recall information and to recognize economic terms and
concepts. Questions in the Knowing category asked students to
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recognize and recall information and concepts, and
interpret data and information to identify events or trends.
NAEP released item, Grade 12