Economics Revision ( 3rd Term)

Which of these is a component of Agriculture?

• education

• fishing

• cutlass

• tractor.

Subsistence agriculture is another name for

• mechanised

• plantation

• peasant

• cooperative farming.

The process of digging deep holes into the ground to extract deposited mineral resources from the earth's crust is known as ____

• farming

• manufacturing

• mining

• lumbering

All the following are environmental problems caused by mining except ____

• air pollution

• oil spillage

• land pollution

• fumigation

What is the definition of a central bank?

• A financial institution that accepts deposits and lends money

• A financial institution that is responsible for managing a country's monetary affairs

• A financial institution that is owned by private individuals or organisations

• A financial institution that is not profit-oriented

What is the definition of a commercial bank?

• A financial institution that is owned by the government

• A financial institution that is not profit-oriented

• A financial institution that accepts deposits and lends money to the public

• A financial institution that is responsible for managing a country's monetary affairs

What is a short-term loan market called?

• Capital Market

• Money Market

• Stock Exchange

• Bond Market

What is the definition of a stock exchange market?

• A market where new shares are issued and traded.

• A market where existing securities like shares, stocks, and debentures are bought and sold.

• A market where foreign exchange is traded.

• A market where only government securities are traded.

What was the primary reason for the development of money after the barter system?

• To increase trade

• To solve the double coincidence of wants problem

• To store a value

• To make payments easier

Which of the following is NOT a type or kind of money?

• Commodity money

• Bank money

• Plastic money

• Barter system