IGCSE Economics Glossary Terms - A

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Other
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9th - 12th Grade
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Medium
Escott .
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A situation in which a country is able to produce a particular good or service at a lower cost (using fewer resources) relative to other countries
Absolute advantage
Relative advantage
Absolute gain
Relative gain
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A situation in which an individual does not have enough income to satisfy their most basic needs of food, clean water, clothing, shelter, education and healthcare
Relative poverty
Absolute poverty
Aggregate poverty
Relational poverty
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The proportion of people within a population who fall into certain age groups, e.g. young (0-14 years), of working age (15-65 years) and old (65 years and beyond)
Ageing population
Age spread
Age distribution
Age appreciation
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The total demand for all goods and services in an economy from consumption (C), investment (I), government spending (G) and net exports (X-M)
5.
FILL IN THE BLANK QUESTION
1 min • 1 pt
The total supply of goods and services in an economy
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The way resources are allocated to the production of the goods and services most wanted by consumers
Allocation of resources
Allocation of goods
Allocation of services
Allocation of production
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
A rise in the value of a currency due to market forces
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