S3 Economics 1st Quiz

Which of the following is NOT a free good?

• free education provided by the government

• water in the Yellow River

• sand in the beach

• trees in the tropical rainforest

Which of the following statement(s) about economic goods is/are CORRECT?

(1) People always prefer more of them.

(2) The quantity available is not sufficient to satisfy all people’s wants.

(3) Goods that are free of charge cannot be economic goods.

• (3) only

• (1) and (2) only

• (2) and (3) only

• (1), (2) and (3)

Which of the following is most likely an economic good?

• water in the sea

• sunshine

• sand in the desert

• fish sold in the market

Free shuttle bus service running between shopping malls and housing estates is

• a free good because it is free of charge.

• a free good because no one is willing to pay for it.

• an economic good because it helps increase the number of people going to the shopping malls.

• an economic good because various resources are used in the provision of the free shuttle bus service.

The free newspapers distributed at the MTR stations are

• free goods because MTR passengers do not pay for them.

• free goods because every MTR passenger has the right to get them.

• economic goods because there are always MTR passengers who want to get the free newspapers but cannot get one.

• economic goods because they can attract more people to take the MTR.

Sometimes there are free gifts inside magazines. Which of the following statements about these free gifts is CORRECT?

• The free gifts are free goods because nothing has to be forgone to get them.

• The free gifts are economic goods because people have to pay for the magazines in order to get them.

• The free gifts are free goods because everyone who buys the magazines gets them.

• The free gifts are economic goods because resources used to produce these free gifts have alternative uses.

To encourage the public to do more exercise, the government of a country lets citizens use public swimming pools free of charge. To society, the public swimming pool service is

• a free good because water is a gift of nature.

• a free good because the fee is waived.

• an economic good because the government has to pay for the expenses involved.

• an economic good because the maximum number of people who can use the public swimming pool is limited.

In some schools, students use the printing service without paying any fee. To society, the printing service is a/an _________ because _____________.

• free good … the school does not aim to maximise profit

• free good … the printing service is free of charge

• economic good … when one student is using the printing service, other students have to wait

• economic good … paper and ink are needed for the provision of printing services

Some community service centres provide free tutorial classes to students in need. The free tutorial service is

• a free good because the students need not pay any tuition fee.

• a free good because it does not have market value.

• an economic good because the tuition fee has already been included in the membership fee.

• an economic good because the tutors have positive time cost.

After the Second World War, many people in Germany had to salvage construction materials from their destroyed homes to reconstruct their homes. In this case, these building materials are

• an economic good because costs are involved in obtaining them.

• an economic good because these building materials were wanted by the Germans.

• not an economic good because they did not have to pay money for them.

• a free good because these materials have no alternative uses.