Year 10 Business & Economics - Wk 1

Year 10 Business & Economics - Wk 1

10th Grade

10 Qs

quiz-placeholder

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Year 10 Business & Economics - Wk 1

Year 10 Business & Economics - Wk 1

Assessment

Quiz

Social Studies

10th Grade

Practice Problem

Medium

Created by

Nicolas Lowe

Used 28+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the circular flow model, the real flow (not money) from households to producers is:

Wages and salaries

Goods and services

Factors of production

Consumption expenditure

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a factor of production:

Land

Income

Labour

Capital

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Equilibrium refers to a state in the economy where ................. are equal to injections

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A decrease in taxation is an example of a decision made by which sector:

Household

Business

Financial

Government

Overseas

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An economic problem faced by all is:

Unlimited needs and wants and limited resources to satisfy those needs and wants.

Excess resources which can bring about wastage

Scarce resources which can be used in many different ways so it is essential that the nation maximises opportunity cost

Limited needs and wants and unlimited resources to satisfy those needs and wants

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The income type paid for land is ................

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Name one (1) leakage in the circular flow model

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