Micro, macro and resource allocation

Micro, macro and resource allocation

8th Grade - University

15 Qs

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Micro, macro and resource allocation

Micro, macro and resource allocation

Assessment

Quiz

Social Studies

8th Grade - University

Easy

Created by

Junaid Ahmed

Used 2+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Macroeconomics deals with

Economy as a whole

Individual

Both Economy as a whole as well as individual

None of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Microeconomics can be defined as ...

the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

the study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, resources, and/or methods of production.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An economic system that allows individuals to start businesses, but still has government regulations is

Traditional

Market

Command

Mixed

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which economic system are all resources privately owned and the buyers and sellers answer the three economic questions?

Traditional

Command

Market

Mixed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of economic system is it when the government decides what to produce, the government decides how to produce, and the government decides who gets the goods produced?

Traditional

Planned

Market

Mixed

6.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

A ______________ is a place where people buy and sell goods.

building

factory

market

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Ava wants to buy present for her sister. Ava is a ___________.

buyer

seller

producer

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