Understanding the Australian Economy

Understanding the Australian Economy

9th Grade

12 Qs

quiz-placeholder

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Understanding the Australian Economy

Understanding the Australian Economy

Assessment

Quiz

Business

9th Grade

Practice Problem

Medium

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12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is about how people produce ______ and provide _______ for others to consume.

Goods and Services

Goods and Products

Services and Products

Items and Things

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Every country has its own way of organising the production & consumption of goods/services known as an economic system

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Australia is a _________ type of economy

Traditional/Subsistence Economy

Planned capitalist economy

Market capitalist economy

Market socialist economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When countries exchange goods and services, it is called trade.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the 3 types of resources?

Labour, natural, capital

Labour, human, capital

Natural, tangible, intangible

Capital, entrepreneurship, labour

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers who are self-sufficient, producing enough to survive, rather than make a profit are called...

Planned socialist

Traditional or subsistence

Planned capitalist

Market capitalist

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers exchange goods and services with consumers in return for money are.....

Planned capitalist

Market capitalist

Planned socialist

Market socialist

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