IGCSE Economics Glossary Terms - A

IGCSE Economics Glossary Terms - A

9th - 12th Grade

13 Qs

quiz-placeholder

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IGCSE Economics Glossary Terms - A

IGCSE Economics Glossary Terms - A

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Escott .

Used 112+ times

FREE Resource

13 questions

Show all answers

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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