UTM KL QUIZ (Chapter 1-3)

Uncle Roger opens a fried rice stall in KL and must decide how to use his limited time and ingredients. This decision represents which economic concept?

• Inflation

• Choice

• Economic growth

• Public finance

Dr. Malar uses her savings to buy new medical equipment for her clinic instead of going on vacation. The vacation is her:

• Total cost

• Opportunity cost

• Economic benefit

• Fixed cost

When Aina Abdul chooses between buying matcha or tiramisu for her café’s menu, she is facing the problem of:

• Scarcity

• Unemployment

• Price index

• Externality

A PPC (Production Possibility Curve) shows that if more bubble tea is produced, fewer tiramisus can be made. This illustrates:

• Economic growth

• Opportunity cost

• Market failure

• Surplus

Taylor Swift’s new concert in Malaysia leads to all resources being fully used — workers, venues, and suppliers. The economy is operating:

• Inside the PPC

• On the PPC

• Outside the PPC

• Below full capacity

In a capitalist economy, who decides what songs Olivia Rodrigo releases or what merchandise she sells?

• Government

• Her fans (consumers)

• Central bank

• Labour unions

In a socialist economy, if Billie Eilish’s concert ticket prices are fixed by the government to ensure fairness, this reflects:

• Consumer sovereignty

• Central planning

• Price mechanism

• Invisible hand

Malaysia’s mixed economy means:

• Only private businesses exist

• Both government and private sector work together

• No taxation

• Only one producer controls the market

Pickleball clubs around Klang Valley are growing due to collaboration between private sponsors and government sports grants. This is an example of:

• Capitalist economy

• Mixed economy

• Socialist economy

• Traditional economy

When coffee culture in Malaysia inspires more local cafés, it demonstrates the microeconomic focus on:

• National income

• Individual choices

• Fiscal policy

• Unemployment rate