Search Header Logo

ECONOMICS FINAL REVISION

Authored by Jon Inge

Other, Specialty

12th Grade

Used 5+ times

ECONOMICS FINAL REVISION
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

49 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

WHY DOES A TRANSITION ECONOMY HAVE HIGH UE AND HIGH INFLATION

TRANSITION ECONOMIES ALWASY LEAD TO STAGFLATION

REMOVING CEILING PRICES LEAD TO INFLATION AND THE PROFIT MOTIVE FOR PRIVATE FIRMS CAUSE UE

REMOVING FLOOR PRICES LEAD TO INFLATION AND THE PROFIT MOTIVE FOR PRIVATE FIRMS CAUSE UE

GOVERNMENT THAT REPLACE COMMUNISM DONT CARE ABOUT UNEMPLOYMENT AND LIEK TO SPEND BIG

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

WHETHER TO BE VEGETARIAN , VEGAN OR NORMAL IS AN EXAMPE FO WHCH ECONOMIC QUESTION

THE WHAT

THE WHO

THE HOW

THE NO COW OPTION

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Of the three major economic questions, which of the following is the best example of a "How?" question?

Should we produce more heavy fleece coats? 
Should we collect tolls on turnpikes using human toll collectors or mechanized toll machines? 
Should we build log homes or build factories from bricks? 
Should we spend more on health care?

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

WHEN THE PRICE OF FISH INCREASES SIGNIFICANTLY THE PRICE OF BEEF WOULD BE EXPECTED TO

FALL

STAY THE SAME

INCREASE

NOT ENOUGH INFORMATION TO TELL

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

THE ELASTICITY OF DEMAND FOR FISH IS NOT BASED ON

THE COST AS A % OF INCOME

THE SUPPLIES KEPT BY PRODUCERS TO CATER FOR INCREASED DEMAND

BEING A STAPLE OF FAMILY MEALS

NONE OF THESE OPTIONS

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The medication known as insulin has seen a decrease in demand of 2%, while the price has increased 10%

5 inelastic

5 elastic

.2 inelastic

.2 elastic

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The market for goldfish is competitive. From year 1 to year 2, both the price and the quantity of goldfish increase. This is most likely caused by:

An increase in the supply
A decrease in the demand
An increase in the demand
A decrease in both the demand & the supply

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?