
WHSS Economics: Section 1 Prep
Authored by Mohammad Husain
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10th Grade
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16 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In a market economy, what does the entrepreneur decide? A the combination of resources used B the demand for the product C the equilibrium price of the product D the level of profits
A
B
C
D
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A factory working at full capacity is producing tennis racquets and golf clubs. The management decides to produce fewer racquets and more clubs because of an increase in demand for golf clubs. What is the opportunity cost of producing more golf clubs? A the cost of retraining some workers to make golf clubs B the cost of transporting and selling the extra golf clubs produced C the materials bought to make extra golf clubs D the tennis racquets that will not now be produced
A
B
C
D
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A business has two owners. They have limited liability. Its shares are not sold on the stock exchange. What type of business is this? A partnership B private limited company C public corporation D public limited company
A
B
C
D
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What would prevent an Egyptian company being classified as a multi-national company?
A It concentrates on one stage of production only.
B It employs only Egyptians as managers.
C It manufactures only in Egypt.
D It uses other firms to transport its goods.
A
B
C
D
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is most likely to be the main function of a central bank?
A controlling the money supply
B investing in commerce and industry
C issuing and processing credit cards
D making loans to individuals
A
B
C
D
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which action is evidence that a country is a planned economy?
A A central bank plans an interest rate change.
B A government plans the allocation of all resources.
C A local authority plans a new library.
D A ministry of finance plans the annual budget.
A
B
C
D
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which statement best explains why drought is an economic problem?
A Drought cannot be controlled.
B Rainfall is unreliable.
C The effects of drought involve the government.
D Water is a scarce good.
A
B
C
D
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