
Economics-REVISION FOR FIRST TERM
Authored by Jesitha Wahid
Business
9th - 11th Grade
Used 6+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
1.Which of the following might be considered a need rather than a want
Shelter
Holiday
Smart phone
Pet dog
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Line that shows the different combinations of two goods an economy can produce if all resources all used up
Demand curve
Supply curve
Production possibility curve
Production curve
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Money that a business receives over a period of time,especially from selling goods or services
Profit
Revenue
Expense
None of the above
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
which of the following would help consumers and producers to maximize their benefits and profits respectively
Lower prices
Access to more information
Improved transport networks
Better quality products
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of following will cause a demand curve shift to the left
A fall in price of a product
A rise in income
A rise in price of a product
A fall in income
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Bread and butter are
Inferior goods
Complementary goods
Substitute goods
Capital goods
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If supply is fixed which of the following is true
Demand will also be fixed
The supply curve will be vertical
Suppliers will not offer any quantity for sale
Supply will fall when price rises
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