
CIE economy AS-v1

Quiz
•
Mathematics
•
12th Grade
•
Easy
Standards-aligned
Jason Hoford
Used 1+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A tourist visits the coast for a holiday. 2 On her first day, she visits the local tourist office for information, goes for a swim in the sea, spends the evening enjoying the view of the coastline and rents a campsite for an overnight stay. Which activities involve economic goods and which involve free goods?
A
B
C
D
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which aspect of a planned economy might be viewed unfavourably by a consumer but favourably by a producer?
a bureaucratic system of decision-making
a long response time to changing economic events
an absence of incentives to work and to produce
an emphasis on the production of capital goods
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement would be classified by an economist as a positive statement?
Balancing the budget cannot be more important than reducing inflation.
Maintaining the real income of pensioners needs to be a priority.
The government should increase indirect taxation.
The government will not increase direct taxation.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The price elasticity of demand for a firm’s product is equal to one for all price changes. What would be the result of this?
A percentage increase in price will cause demand to fall by a larger percentage.
A percentage increase in price will cause demand to increase by the same percentage.
Quantity demanded will always be the same whatever the price.
The firm’s revenue will always be the same whatever the price.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will definitely stop, following the nationalisation of an industry?
dividend payments to the industry’s shareholders
job losses among the industry’s workforce
price increases for the industry’s product
the closure of unprofitable factories in the industry
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What will cause a movement along an aggregate supply curve?
a rise in the demand for exports
a rise in the price of raw materials
a rise in the productivity of labour
a rise in the rate of sales tax
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A government devalues its fixed exchange rate. What is most likely to be its aim?
to improve the terms of trade
to increase the level of aggregate demand
to reduce a current account surplus
to reduce demand-pull inflation
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