Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
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: 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 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 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 recognize and recall information and concepts, and interpret data and information to identify events or trends. NAEP released item, Grade 12