JAWs 2016

The author of "The Wealth of Nations" was called:

• Mr Robert Small
• Mr Robert Smith
• Mr Adam Smith
• Mr Adam Ant

The new Economics A-Level from Edexcel looks quite complicated to mark

• True
• False

When calculating elasticities it is helpful if students already know how to:

• Use a calculator
• Calculate a percentage
• Rearrange a simple formula
• All of the above

The 'Basic Economic Problem" can be summarised as:

•  Yes, I have a problem with economics
• The problem of the free rider
• Wants are infinite, resources are scarce
• Resources are infinite but knowledge is limited

Economic resources are commonly grouped into 4 categories:

• Micro, macro, international and local
• Animals, vegetables, minerals and other
• Earth, air, fire and water
• Land, labour, capital and entrepreneurs 

What colour is the deadweight loss?

• Yellow
• Red
• Blue
• Green