An insight into the world of economy and finance

Who owns resources in a free-market system?

• Private sector

• Public sector

• Both private and public sector

• None of the other answers

Who makes decisions in a planned economy?

• Private individuals

• The government

• The market

• All the other answers

What does the public sector in a mixed economy consist of?

• The price mechanism

• Market forces

• A range of public services

• The distribution of goods

What is the private sector in a mixed economy governed by?

• The price mechanism

• Market forces

• A wide range of public services

• The distribution of goods

What is the importance of international trade?

• A

• B

• C

• D

How are called goods bought from foreign countries?

• Visible exports

• Visible imports

• Invisible exports

• Invisible imports

How are called services sold to foreign countries?

• Invisible exports

• Invisible imports

• Visible exports

• Visible imports

How is called a negative balance in the Balance of Trade?

• Surplus

• Deficit

• Pay gap

• Debt

What does the balance of payments include?

• Only visible trade

• Only invisible trade

• Both visible and invisible trade

• None of the other answers

What can a government do to improve the GDP?

• Ensuring that natural resources are not used efficiently.

• Ensuring that standards of living for the population improve.

• Ensuring that the workforce is adequately educated and trained.

• Ensuring that there are investments in new machinery and producing techniques.