
Basic Economic Concepts Quiz
Authored by zenobia Azfar
Other
10th - 12th Grade
Used 1+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A Dubai company specializes in exporting high-quality dates because of their unique taste and high demand worldwide. This demonstrates:
Absolute advantage
Comparative advantage
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The UAE government must decide whether to allocate more funds for tourism or education. This decision highlights the concept of:
Opportunity cost
Scarcity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The UAE introduces a new free zone to attract international businesses. This is an example of:
Economic incentives
Marginal analysis
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A UAE-based oil company decides to invest in renewable energy. This decision shows:
Command economy
Marginal analysis
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A new factory opens in Ras Al Khaimah, producing both cement and bricks. If they produce more cement, brick production decreases. This situation is explained by:
Circular flow model
Production Possibilities Curve
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
During Ramadan, supermarkets in the UAE reduce prices for essential food items. This change reflects:
Price elasticity of demand
Consumer preferences
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the price of petrol rises in the UAE, people are likely to use public transport more. This relationship shows:
Substitutes
Complements
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