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Basic Economics Quiz

Authored by Myra Abo

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Professional Development

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Basic Economics Quiz
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35 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal of land reform?

Increase industrial growth

Reduce government spending

Encourage foreign land ownership

Redistribute land to promote equity and productivity

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which Philippine law established the Comprehensive Agrarian Reform Program (CARP)?

Republic Act No. 6657

Republic Act No. 3844

Presidential Decree No. 27

Republic Act No. 6657 (Comprehensive Agrarian Reform Law)

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is taxation?

A compulsory financial charge imposed by the government

A voluntary donation to the government

A form of trade restriction

A type of loan

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Eminent domain allows the government to:

Take private land for public use with just compensation

Sell public lands to private entities

Lease land indefinitely

Ban land ownership

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a type of land tax?

Income Tax

Real Property Tax

Sales tax

Value-added tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is land reform important in developing countries?

It reduces inequality and boosts agricultural output

It increases foreign investments

It discourages farming

It eliminates all taxes

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between progressive and regressive taxation?

Progressive taxes increase with income; regressive taxes burden the poor more

Progressive taxes are voluntary; regressive taxes are mandatory

Progressive taxes apply only to businesses

Regressive taxes are always higher

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