WorksheetsWelcome to Y10 OCR GCSE Economics (1-9)
Total questions: 20
Worksheet time: 10mins
Which of these is not one of the key economic decisions?
what to produce?
how to produce?
who is to benefit from the goods and services produced?
how much to charge for the goods and services produced?
What happens every time we make a decision?
We win!
We incur an opportunity cost
We incur an opportunity loss
We incur an opportunity cost of multiple other options
Which of these is a description of a 'trade-off'?
Having more than you want, or need.
When people work in jobs where they produce a few special goods, or services.
When you get a little less of one thing in order to get a little more of something else.
Something one person does for someone else.
Who is the president of the People's Republic of China?
Xi Jinping
Li Keqiang
Wang Yang
Han Zheng
When is the end of the Brexit Transition Period?
December 31st 2020
March 19th 2021
November 5th 2020
We are no longer leaving
Who is the Chancellor of the Exchequer?
Sajid Javid
Phillip Hammond
George Osborne
Rishi Sunak
What is the current UK rate of inflation (July 2020)?
1.1%
2%
0.8%
3.2%
What is the current UK unemployment rate?
~ 4%
~ 2%
~ 5%
~ 8%
What is the current Bank of England Base (Interest) Rate?
2%
0.75%
1%
0.1%
Who is Governor of the Bank of England?
Mark Carney
Andrew Bailey
The Queen
Mervyn King
What is the world's 3rd largest economy?
USA
China
UK
Japan
What is this?
A supply curve
A demand curve
A supply shift line
A demand shift line
What does this show?
A shift in supply
An expansion of demand
A shift in demand
An expansion of supply
What does this show?
An increase shift in demand
A decrease shift in demand
An expansion of demand
A contraction of demand
