Finance Unbox-ED ($) - Grade 3-5 - Session 013 - Assessment 2

Peak season is a period during which demand for certain goods and services is much higher than other times

• True
• False

Peak hour is a time in the day during which demand for certain goods and services is much lower than other times

• True
• False

Prices of goods and services are lower during peak season or peak hour

• True
• False

Select all the examples of peak hour

• Prices of Uber rides during rush hours of morning and evening
• Prices of resorts at holiday destinations during school breaks
• Prices of movie tickets for evening shows
• Prices of Christmas tree decorations before Christmas

Increase in prices due to peak season or peak hour is not inflation as these prices will go down again when it is not peak season or peak hour

• True
• False

What does GDP stand for?

• Goods Domestic Product
• Gross Domestic Product
• General Domestic Product
• Gross Demand Product

What is the GDP of a country?

• Demand for all the goods and services in a country in one year
• Supply of all the goods and services in a country in one year
• Quantities of all the goods and services produced by a country in one year
• Market value of all the goods and services produced by a country in one year

Select all the statements that are true

• USA has the highest GDP by value
• Germany has the highest GDP by value
• India has had rapid GDP increase over the last decade
• Japan has had rapid GDP increase over the last decade

Select all the statements that are true

• GDP tells us how large the economy of a country is
• GDP increase and decrease tell us how well the economy of a country is doing
• Increase in GDP is a good thing and decrease in GDP is a bad thing
• All of the above

What is GDP decline or decrease called?

• Deflation
• Inflation
• Recline
• Recession