PLATO EDMENTUM ECONOMICS END OF
SEMESTER TEST CERTIFICATION REVIEW
SET 2026 ANSWERS GUARANTEED PASS
⫸ A company is struggling to finish the required accounting work for
its financial year-end. The employees are unwilling to stay late to
complete the work. If the company does not complete its work, it will be
in serious trouble. So, the managers decide to pay the staff a bonus for
every hour they stay during this period. After the employees worked
extra hours for a few days, the work was completed and everyone was
happy. What was the incentive for the employees in this scenario?
Answer: money
⫸ Which two sentences describe incentives? Answer: The person to
complete the work first will be rewarded. Harry's boss also announces
that people working overtime will be eligible for a bonus.
⫸ John works for a factory and receives a weekly paycheck. He
typically places 3% of each paycheck into a bank savings account. The
money placed in the savings account ______ the economy.
In addition to providing savings accounts to customers, like John, the
bank invests money in several businesses. The money that the bank
invests ____ the economy. Answer: leaks out from, is injected back into
⫸ The government of a country has introduced a few economic policies
for the current financial year. Which of these policies is John Maynard
Keynes most likely to disagree with? Answer: Food exporters can export
, as much wheat as they want, while in the past they were limited to 50
tons.
Entrepreneurs are no longer restricted from importing raw materials.
⫸ What is money supply? Answer: the total amount of money
circulating in the economy
⫸ Match the scenarios with the economic concepts they illustrate.
Answer: price of gold = substitution
price of gas = income
A new factory in a village provides livelihoods = positive
A new factory in a village causes noise pollution = negative
⫸ What economic concept is applied in this statement?
By earning higher levels of education, students learn skills and are more
likely to be employed. In their jobs, they use their skills to provide goods
and services to others. Answer: positive externality
⫸ Which statement is true? Answer: A point on the PPC indicates
maximum utilization of available resources.
⫸ If the firm is at point D and decides to increase the production of bike
tires by 300 units, the opportunity cost will be ____truck tires.
If the firm is at point B and decides to increase the production of truck
tires by 400 units, the opportunity cost will be ____ bike tires. Answer:
200, 500
SEMESTER TEST CERTIFICATION REVIEW
SET 2026 ANSWERS GUARANTEED PASS
⫸ A company is struggling to finish the required accounting work for
its financial year-end. The employees are unwilling to stay late to
complete the work. If the company does not complete its work, it will be
in serious trouble. So, the managers decide to pay the staff a bonus for
every hour they stay during this period. After the employees worked
extra hours for a few days, the work was completed and everyone was
happy. What was the incentive for the employees in this scenario?
Answer: money
⫸ Which two sentences describe incentives? Answer: The person to
complete the work first will be rewarded. Harry's boss also announces
that people working overtime will be eligible for a bonus.
⫸ John works for a factory and receives a weekly paycheck. He
typically places 3% of each paycheck into a bank savings account. The
money placed in the savings account ______ the economy.
In addition to providing savings accounts to customers, like John, the
bank invests money in several businesses. The money that the bank
invests ____ the economy. Answer: leaks out from, is injected back into
⫸ The government of a country has introduced a few economic policies
for the current financial year. Which of these policies is John Maynard
Keynes most likely to disagree with? Answer: Food exporters can export
, as much wheat as they want, while in the past they were limited to 50
tons.
Entrepreneurs are no longer restricted from importing raw materials.
⫸ What is money supply? Answer: the total amount of money
circulating in the economy
⫸ Match the scenarios with the economic concepts they illustrate.
Answer: price of gold = substitution
price of gas = income
A new factory in a village provides livelihoods = positive
A new factory in a village causes noise pollution = negative
⫸ What economic concept is applied in this statement?
By earning higher levels of education, students learn skills and are more
likely to be employed. In their jobs, they use their skills to provide goods
and services to others. Answer: positive externality
⫸ Which statement is true? Answer: A point on the PPC indicates
maximum utilization of available resources.
⫸ If the firm is at point D and decides to increase the production of bike
tires by 300 units, the opportunity cost will be ____truck tires.
If the firm is at point B and decides to increase the production of truck
tires by 400 units, the opportunity cost will be ____ bike tires. Answer:
200, 500
