About this Study Set
This study set covers Microeconomics through
12 practice questions.
Basic microeconomic concepts illustrated with facts about the natural world, animals, and the environment. Every question includes the correct answer so you can learn as you go — pick any format above to get started.
Questions & Answers
Browse all 12 questions from the
Microeconomics in Nature study set below.
Each question shows the correct answer — select a study format above to practice interactively.
1
What economic concept describes the highest valued alternative that must be forgone when a choice is made, such as a bee choosing to forage on one type of flower over another?
-
A
Scarcity
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B
Opportunity Cost
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C
Demand
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D
Supply
2
When a rainforest canopy limits the amount of sunlight reaching the forest floor, this is an example of which fundamental economic problem for plants trying to grow there?
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A
Unlimited wants
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B
Abundance
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C
Scarcity
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D
Surplus
3
If the population of rabbits, a primary food source for foxes, dramatically increases, what is likely to happen to the demand for foxes to hunt them in that ecosystem?
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A
Decrease
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B
Remain the same
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C
Increase
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D
Become zero
4
When a disease significantly reduces the number of salmon in a river, what will likely happen to the supply of salmon available for predators like bears?
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A
Increase
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B
Remain unchanged
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C
Decrease
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D
Become infinite
5
The interdependence of species in an ecosystem, where the actions of one species affect others, is analogous to which economic principle regarding market participants?
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A
Monopoly
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B
Perfect competition
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C
Market equilibrium
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D
Externalities
6
When a bird species has a limited number of nesting sites available, this illustrates the economic concept of:
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A
Unlimited supply
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B
Scarcity of resources
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C
Infinite demand
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D
Economic growth
7
The price of honey in a local market is influenced by the number of beehives producing honey. This is an example of:
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A
Government regulation
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B
Supply and demand
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C
Consumer preferences
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D
Technological innovation
8
If the cost of catching fish for a seal increases significantly due to rough seas, what is likely to happen to the seal's supply of fish?
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A
Increase
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B
Decrease
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C
Stay the same
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D
Become unlimited
9
The desire of a lion to hunt and consume prey, even when not immediately hungry, can be considered akin to which economic concept for consumers?
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A
Decreasing marginal utility
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B
Consumer surplus
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C
Demand
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D
Scarcity
10
When pollution from a factory negatively impacts the fishing industry in a nearby river, this is a classic example of a(n):
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A
Positive externality
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B
Public good
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C
Negative externality
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D
Merit good
11
The total amount of a particular type of seaweed available for sea turtles to eat in a given area is referred to as the:
-
A
Demand for seaweed
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B
Price of seaweed
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C
Supply of seaweed
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D
Opportunity cost of seaweed
12
If a rare orchid species is difficult to find and reproduce, its availability in the wild is a constraint that relates to which economic principle?
-
A
Unlimited resources
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B
Economic efficiency
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C
Scarcity
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D
Market failure
