ECONOMICS INTRODUCTION

Front

Which of the following is an example of a good that satisfies a recurring want? Food, An overseas holiday, A 21st birthday present.

Back

Food.

Front

Which of the following pairs is the best example of complimentary goods? Electricity and appliances, Apples and oranges, Holidays and cars, Swimming pools and magazines.

Back

Electricity and appliances

Front

Going to the movies will cost Susie

Back

$45 plus anything she spends on popcorn etc.

Front

Which economic system is likely to be characterised by efficiency and dynamism but inequality?

Back

An unplanned or market system.

Front

Transport is part of

Back

tertiary industry.

Front

Fiat money

Back

is one whose supply depends on the government.

Front

How did WWII impact on Europe's production possibilities?

Back

The PPF shifted to the left.

Front

There are four types of economic systems. Most economies are _____.

Back

Mixed

Front

_______ is another word for Market Economy.

Back

Capitalism

Front

Economics seeks an answer to the basic question of how to deal with ______.

Back

scarcity