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Applied Economics

Authored by Maria Angelita Ordoñez

Social Studies

12th Grade

Used 73+ times

Applied Economics
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12 questions

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1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Identify which economic resource is being referred by the picture.

Land

Labor

Capital

Entrepreneurship

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

Identify which economic resource is being referred by the picture.

Land

Labor

Capital

Entrepreneurship

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

It refers to the quantity of goods that a seller is willing to offer for sale.

Demand

Supply

Price

Quantity

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In Law of Demand, which shows the correct relationship of price and quantity demanded?

Media Image
Media Image

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

Identify the three economic systems.

Monopolistic economy

Traditional economy

Command economy

Market economy

6.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

What are the two main branches of Economics?

Positive economics

Normative Economics

Macroeconomics

Microeconomics

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following scenarios are categorized as MICROECONOMICS? Choose two scenarios.

Household weekly budget

Government project on public infrastructure.

The current unemployment rate of the country.

A manufacturer's operating expense for the past year.

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