Quiz Economy Group 1

What type of economy system does Turkey has?

• market economy

• mixed economy

• traditional economy

• command economy

What currency does Turkey uses?

• rial

• riyal

• lira

• dirham

What are the 4 factors of production?

• land

• labor

• technology

• entrepreneurship

• capital

What does NOT causes inflation in a country?

• increasing in wages

• demand-pull inflation

• cost-push inflation

• monetary

What does CPI stand for?

Which of the following NOT one of the components of Gross Domestic Product (GDP)?

• Consumption

• Governments

• Producer Price Index

• Investment

When does the covid-19 start?

• 2018

• 2022

• 2020

• 2019

Which is the following is not a central problem of an economy?

• Where to produce

• How to product

• For whom to produce

• What to produce

A little inflation is normal and even good for a healthy economy. Inflation becomes a problem when it grows too quickly.

• True

• False

inflation is...

• % increase or decrease in prices over a period of time

• Rise in costs of goods and services