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Grade 11 · unit review

Review: Microeconomics Models and Decisions

Calculate costs, compare opportunity costs and interpret market conditions.

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Bring the unit skills together

Use these 4 new cases to check your reasoning. Choices are temporary and are not saved to an account, sent to staff or recorded as school grades. Download your current review choices before leaving or reloading.

Unit review questions
1. Fictional price $7, sold 6, total cost $29. Profit?
Need a hint?
  • Profit = price × units sold − stated total cost.
  • Keep the stated units and operation order; show the substitution before evaluating.
2. Fictional team can make 28 cards or 7 posters. Cards forgone per poster?
Need a hint?
  • Opportunity cost of one poster = forgone cards ÷ possible posters.
  • Keep the stated units and operation order; show the substitution before evaluating.
3. Read this supplied card: “Fictional price: supplied 14, demanded 8.” A writer adds, “This one example proves that every person and society has the same experience.” Which revision keeps what the card supports?
Need a hint?
  • Find the defining action, direction, date, institution or resource in each note separately.
  • Keep the conclusion within the stated examples; do not add a universal ranking or unstated causal result.
4. Read this supplied card: “A fictional maintained garden benefits passersby.” A writer adds, “This one example proves that every person and society has the same experience.” Which revision keeps what the card supports?
Need a hint?
  • Find the defining action, direction, date, institution or resource in each note separately.
  • Keep the conclusion within the stated examples; do not add a universal ranking or unstated causal result.

The download contains your current choices and any checked feedback. Keep the separate transfer-task work in your own document; downloading its instructions does not mark it complete.

Use the skills in a new task

Create a one-page illustrated or written guide to Microeconomics Models and Decisions. Include one accurate explanation from each of its four lessons and one comparison or calculation. Identify the evidence or model boundary. The guide must use supplied information; no real interview, purchase, personal record or outside approval is required. Younger learners may dictate or draw with an adult reading aloud.

Work on paper or in your own document. Explain the choices you made.

  • Include an accurate point from each of the four named lessons.
  • Connect each explanation to a supplied fact, record or numerical input.
  • Show the reasoning in one comparison, sequence or calculation; do not provide only a label.
  • Distinguish historical facts from original fictional classroom examples and avoid invented quotations.
  • State one limitation and what additional evidence would answer it.
Compare with a model response

Total Revenue Cost and Profit: Fictional price $5, sold 8 units, total cost $27. First find revenue: $5 × 8 = $40. Then subtract total cost: $40 − $27 = $13 profit. Reporting $40 would confuse revenue with profit; adding the cost would reverse the rule. The calculation uses only the supplied price, sales and cost. It does not establish cash balance, tax liability or a real business forecast. Comparative Advantage and Opportunity Cost: Assume constant trade-offs and fixed resources. Team A can make 12 cards or 4 posters; B can make 14 cards or 7 posters. A gives up 12÷4=3 cards per poster; B gives up 14÷7=2. B has comparative advantage in posters because 2<3. For cards, A gives up 4÷12=1/3 poster; B gives up 7÷14=1/2. A has comparative advantage in cards even though B can produce more of either good. Lower opportunity cost differs from larger output. Supply Demand and Equilibrium: P has a shortage of 4 units and Q a surplus of 4. Equal gap size does not make the direction identical. Neither price is an equilibrium in the supplied model. Externalities and Public Decisions: The bill is a private cost and the noise burden an external cost. Identifying the spillover supports considering a response, not automatically proving which policy has the best net effect. The guide explains these supplied cases, not every person or place. To make a broader claim, we would need additional matching records or observations from the people, places and period concerned.

A different response can also meet the criteria. Compare the evidence and reasoning, rather than copying the wording.