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Principle of Economics

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

The economy of Malaysia is the third largest in Southeast Asia.

a)

True

b)

False

2.

Malaysia exports the first largest volume and value of palm oil products globally after Indonesia.

a)

True

b)

False

3.

Who is Malaysia's largest trading partner?

a)
b)
c)
d)
4.

Malaysia's industrial sector accounts for 36.8%, over a third of the country's GDP in 2014, and employs 36% of the labour force in 2012.

The industrial sector mostly contributed by:

a)

Electrical and electronics

b)

Construction

c)

Automotive

d)

Tourism

5.

Utensils categorized under which market structure?

a)

oligopoly market

b)

monopolistic market

c)

perfect market

d)

monopoly market

6.

What are basic economic questions?

a)

how

b)

what

c)

why

d)

who

7.

Choose the correct scarce resources down below.

a)

labour

b)

capital

c)

land

d)

technology

8.

Elasticity is a measure of the responsiveness of three variable to another.

a)

True

b)

False

9.

Which statement refer to Free Goods?

a)

will not have a price

b)

will have a price

10.

Luxury items, vacations, high-end electronics are examples of goods and services and have a very ________________

a)

inelastic demand

b)

elastic demand