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The nature of economics: edexcel theme1 Alevel

Authored by Mrs Harding

Social Studies

12th Grade

Used 132+ times

The nature of economics: edexcel theme1 Alevel
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"High income taxes discourage effort". This statement is

Normative

Positive

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"People should save more". This statement is

Normative

Positive

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A normative statement

Can be shown to be true or false using evidence

Is an opinion

Is a value judgement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Production Possibilities Frontier shows the various combinations of output:

consumers would like to consume

producers would like to produce

an economy can produce

an economy should produce

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which point represents an underutilization of a country's resources?

B

C

A & D

E

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the difference in the curve of the PPF represent?

the straight line represents increasing opportunity cost between the production of corn & wheat

the curved line represents constant opportunity cost between the production of cactus & pineapples

both

neither

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When a country is coming out of a recession into a time with lower unemployment, the country is moving from a point

outside the PPF to point inside the PPF

close to the PPF to a point inside the PPF

inside the PPF to a point closer to the PPF

outside the PPF to a point closer to the PPF

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