Introduction to Economics part 2

Economic growth is measured by...

• Gross International Product

• Gross Domestic Product

• Gross International Export

• Gross Domestic Export

Economic growth is featured by ...

• Producing more goods & services in this month compared last month

• Producing more goods & services this quarter compared to last quarter

• Producing more goods & services within last 6 months compared to previous 6 months

• Producing more goods & services this year compared to last year

According to this image, which country has the largest GDP in the world?

• America

• China

• Japan

• Australia

According to this image, which country has the third largest GDP in the world?

• America

• China

• Japan

• Australia

The GDP per capita for country A is ...

• 1000

• 10,000

• 1,000,000

• 10,000,000

The GDP per capita for country A is calculated by ...

• Taking GDP divided by number of states

• Taking total population divided by GDP

• Taking GDP divided by total population

• Taking GDP divided by number of cities

What is recession?

• A decline in economic growth for six months or longer

• A decline in economic growth for one year or longer

• A decline in living standards marked by increased unemployment and reduced expenditure on goods & services

• A decline in economic growth for two years or longer

What is depression?

• A decline in economic growth for six months or longer

• A decline in economic growth for one year or longer

• A deep and prolonged decline in living standards marked by continual rise in income and unemployment, and continual fall in sales and production

• A decline in economic growth for two years or longer

What is ethics?

• Applying moral standards to business behaviour

• Applying illegal standards to business behaviour

• Applying dishonourable standards to business behaviour

• Applying fradulent standards to business behaviour

The demand for cosmetics, soaps and fragrances increased mean companies are willing to subject animals to cruelty. What is the ethical issue?

• Unsustainable cacao beans

• Animal testing

• Wage poverty (minimum vs living wage)

• Unsustainable palm oil