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Applied Economics

Total questions: 10

Worksheet time: 4mins

Name
Class
Date
1.

study of economics in relation to real world situations

a)

Microeconomics

b)

Macroeconomics

c)

Econometrics

d)

Applied economics

2.

the tension between the limited resources and unlimited wants and needs.

a)

natural resources

b)

scarcity

c)

opportunity cost

d)

poverty

3.

this book analyzed how markets organized economic life and and produced rapid economic growth

a)

General Theory of Employment, Interests and Money

b)

Das Kapital

c)

The Art of War

d)

The Wealtn of Nations

4.

the Greek translation of the word economics

a)

ekonomiya

b)

oikonomia

c)

okonomea

d)

oikomia

5.

government activities towards taxation, borrowings and expenditures

a)

national budget

b)

money supply

c)

foreign domestic investment

d)

public finance

6.

the three problems of economics is what to produce, how to produce and ....

a)

when to produce

b)

where to produce

c)

which one to produce

d)

for whom it will be produced

7.

the author of the book "General Theory of Employment, Interests and Money" is

a)

Joseph Schumpeter

b)

Donald Trump

c)

Karl Marx

d)

John Maynard Keynes

8.

this is responsible for the rapid technological change and high living standards during the 1980's.

a)

entrepreneur

b)

market

c)

innovation

d)

government

9.

this is marketing of goods and services to different economic outlets for allocations to individual consumers.

a)

production

b)

distribution

c)

exchange

d)

consumption

10.

this factor of production is paid in the form of rent or lease.

a)

land

b)

labor

c)

capital

d)

entrepreneur