Chapter 1 Section 4: The Economist’s Toolbox
Authored by florence dias
Social Studies
12th Grade
Used 18+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Define the term statistics.
o Statistics are economic systems that help in making decisions
o Statistics are information in numerical form
o Statistics can be found during science class where you see a lunar eclipse, which shows the sun behind it
o Statistics is something that everybody engages in every day, and in the way everyone has knowledge about it
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
When economists are interested in identifying trends in statistics, they often use _____________________________________ of numerical relationships.
o Foreign aid and solar system
o Observations and collecting data
o Graphs or visual representations
o Connections and interesting relationships
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Explain the term positive economics
o It studies economic behavior as it is
o It involves judgements of what economic behavior ought to be
o It studies consumer sectors
o It studies monetary system, the ups and downs of business cycles
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Explain the term normative economics
o It studies the scientific method to observe data, hypothesize test and continues test
o It involves judgements of what economic behavior ought to be
o It studies national unemployment figures rise and world trade organization meets
o It studies how due to scarcity all must make a choice
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which graph is called a circle graph and why?
o Bar graph as it compares items by a single measure
o Line graph as it uses at least two sets of numbers or variables
o Pie graph as it shows how part make up a whole
o Macroeconomics graph as it studies the behavior of individual families
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Define the term microeconomics
o It is the study of individuals, families and businesses in an economy
o It is the study of economy as a whole and is concern with large scale economic activity
o It studies economic behavior as it is
o It involves judgements of what economic behavior ought to be
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Define the term macroeconomics
o It is the study of individuals, families and businesses in an economy
o It is the study of economy as a whole and is concern with large scale economic activity
o It studies economic behavior as it is
o It involves judgements of what economic behavior ought to be
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