Economics

Which of the following is an " injection " into the economy?

• Taxation

• Investment

• Savings

• Imports

If exports are greater than imports, there is a...........?

• Gross domestic increase

• Trade deficit

• Trade surplus

• Comparitive advantage

Inflation is when the price of goods and services

• Decrease

• Stay the same

• Increase

Who is Australia's top trading partner?

• UK

• USA

• China

• New Zealand

Who are the participants in the economy?

• Consumers

  Producers

  Workers

  Government

• Financial

  Overseas

  Household

  Firms

• Housing

  Transport

  Education

  Health

• Structure

  Workforce

  Profits

  Products

What is economic scarcity?

• The difference between unemployment and jobs available

• The difference between goods exported and goods imported

• The mismatch between unlimited human wants and limited resources

What is Gross Domestic Product?

• The increase in the price of goods that households buy.

• Total national budget.

• The total market value of all goods and services produced by a country.

• An economic measure of the total balance of trade.

Which of the following is an example of a "leakage" from the economy?

• Exporting goods overseas.

• Investing in new infrastructure

• Borrowing money from a bank

• Buying goods from an overseas business.

If imports are greater than exports, there is a............?

• Trade loss

• Trade deficit

• Trade surplus

• Trade excess

What is comparative advantage?

• The product a country produces the most of.

• The product out of two choices that costs a country the least to produce.

• The product a country consumes the most of.