
Economics Quiz
Authored by Ma. Notarte
Business
11th Grade
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary focus of applied economics?
Theoretical analysis
Real-world application of economic theories
Historical study of economics
Development of new economic models
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT one of the three development values in applied economics?
Sustenance
Self-Esteem
Innovation
Freedom
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does applied economics define economic development?
Increase in GDP
Sustained elevation of an entire society toward a better and more humane life
Growth in international trade
Improvement in technological infrastructure
4.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the difference between positive and normative economics?
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5.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Which of the following is an example of a positive economic statement?
The government should provide free healthcare
Taxes enable the government to provide services to the people
The government must reduce unemployment
Income inequality should be addressed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The supply and demand theory explains that the price of a good is determined by:
Government regulation
Consumer preferences alone
Economic equilibrium where supply equals demand
Production costs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does laissez-faire capitalism advocate for?
Strong government intervention in the economy
No government intervention in the economy
Minimal government intervention in the economy
Full government control of the economy
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