Year 8 Economics Weeks 1 - 4

Which of the following is not a want?

• iPhone

• Swimming pool

• Water

• Laptop

Which of the following is not a need?

• Water

• Food

• Shelter

• Hair dye

is the study of how limited resources are used to satisfy limited wants.

• Microeconomics

• Macroeconomics

• History

• Economics

What is the basic problem of economics?

• Not enough money

• Scarcity

• Being in debt

• Unemployment rising

Which of the following is not a factor of production?

• Money

• Labour

• Capital

• Entrerprise

Which of the following is not a type of economic system?

• Mixed

• Market

• Command

• Supermarket

A hammer is an example of which factor of production?

• Capital

• Labour

• Enterprise

• Land

Water is an example of which factor of production?

• Capital

• Land

• Labour

• Enterprise

Which market are shares exchanged in?

• Housing Market

• Foreign Exchange Market

• Labour Market

• Stock Market

A manager is an example of which factor of production?

• Land

• Capital

• Money

• Enterprise