
Revision Quiz - Basic Economic Problems
Authored by Muhammed Shaifer
Other
9th Grade
Used 8+ times

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30 questions
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1.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
Which of the following is NOT a factor of production?
Labour
2.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
Which factor of production refers to natural resources?
Labour
3.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
What does human capital refer to?
4.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
Entrepreneurship involves:
5.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
Opportunity cost is:
6.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
The concept of opportunity cost is important for:
Only businesses
Only individuals
Both individuals and businesses
Only governments
7.
MULTIPLE CHOICE QUESTION
10 sec • 2 pts
Choosing between spending time on study or playing Football is an example of:
Marginal cost
Fixed cost
Variable cost
Opportunity cost
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