BASIC 9 ECONOMICS PLACEMENT TEST

BASIC 9 ECONOMICS PLACEMENT TEST

9th Grade

31 Qs

quiz-placeholder

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BASIC 9 ECONOMICS PLACEMENT TEST

BASIC 9 ECONOMICS PLACEMENT TEST

Assessment

Quiz

Business

9th Grade

Practice Problem

Easy

Created by

JONATHAN ANETEKHE

Used 1+ times

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31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics can be best defined as the study of

how to spend the family income efficiently.

how to find minimum cost of production.

the interpretation of scarce resources and data.

how scarce resources can be used efficiently

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Choice is necessary because resources

are available

can be found everywhere.

are unlimited

are scarce

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Economics is a social science because it

deals with an aspect of human behaviour.

provides people with the commodities they want.

deals with limited resources which have alternative uses.

is related to how choice is made.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity in Economics generally refers to

a period of production.

hoarding of goods.

a period of famine.

resources being limited

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In Economics, production is complete when

goods are produced in factories.

goods are sold to wholesalers.

goods and services reach the consumers

goods are sold to retailers.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Scarcity in Economics arises because

the resources available are adequate.

individuals have limited time.

resources are limited in supply.

human beings have limited wants.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The document that shows evidence of payment of a business transaction is

credit note

invoice

journal proper

receipt

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