MATURA ENGLISH: Economy & Money

What is the definition of economy?

• The system of production, distribution, and consumption of goods and services within a society or region.

• The medium of exchange, unit of account, and store of value used in economic transactions.

• The interaction between supply and demand that determines prices and production levels.

• The system of government policies and central bank actions that influence economic growth.

Which of the following is NOT a key component of the economy?

• Agriculture

• Industry

• Services

• Education

What are the forms of money?

• Coins and banknotes

• Electronic bank balances and cryptocurrencies

• Physical and digital

• All of the above

What is the function of money?

• Facilitates trade and simplifies economic transactions

• Determines prices and production levels

• Influences economic growth, inflation, and employment

• Boosts productivity and drives economic growth

What factors influence the economy?

• Supply and demand

• Fiscal and monetary policy

• Global trade

• All of the above

What do economic indicators provide insights into?

• Healthcare and education

• Exports and imports

• GDP and unemployment rates

• Technological advances

What does a strong economy lead to?

• Higher standards of living

• Reduced unemployment

• Entrepreneurship and business expansion

• Personal financial well-being

What are the challenges in the economy?

• Disparities in income and wealth distribution

• Recessions and financial crises

• Balancing economic growth with environmental conservation

• All of the above

Why is understanding economic principles and government policies important?

• To make informed financial decisions

• To achieve long-term economic and social stability

• To participate in the economic activities of society

• All of the above

Who is the target audience for this quiz?

• Grade 14 students

• Grade 10 students

• University students

• Working professionals