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WorksheetsCAM 9-ASSESSMENT-1
Total questions: 35
Worksheet time: 20mins
Select out of these how many are factors of Production?
LAND
HOUSE
LABOUR
ENTREPRENEUR
Barter system is exchange of goods and cash?
TRUE
FALSE
Perishable goods can lose its value in Barter system
TRUE
FALSE
WHAT IS YOUR SYLLABUS CODE FOR ECONOMICS -IGCSE?
0580
0455
0510
If I am better at all types of production, I have the ______ in all forms of production.
COMPARATIVE ADVANTAGE
SPECIALISATION
ABSOLUTE ADVANTAGE
EMBARGOES
Developed nations have all of the following except
BETTER EDUCATION
HIGH LEVEL OF TECHNOLOGY
BETTER HEALTH
HIGHER POPULATIONS
Underdeveloped nations tend to trade what type of goods
LOW SKILL PRODUCTS
HIGH TECH GOODS
FINISHED PRODUCTS
HIGH SKILL PRODUCTS
HOW MANY QUESTIONS ARE THERE IN PAPER 1? and CARRIES HOW MUCH MARKS?
20 AND 40
30 AND 30
40 AND 40
What is the weight age of paper 1 and 2?
30% AND 70%
50% AND 50%
40% AND 60%
Set out purposes or reasons/ make the relationships between things evident/ provide why and/ or how and support with relevant evidence.NAME THE COMMAND WORD
EXPLAIN
DEFINE
STATE
Which of these scenarios represents a non-economic activity?
Tutoring local children in English
Selling food from a food cart
Manufacturing clothing for retail stores
Performing event planning services for a wedding
How are economic activities different from non-economic activities?
Importance
Power
Influence
Money
What is the root cause of all economic problems?
Population
Scarcity
Unemployment
Poverty
_________activities refer to those activities, which are not undertaken to earn money.
ECONOMIC ACTIVITY
NON ECONOMIC ACTIVITY
__________activities are performed out of love, sympathy, sentiments, patriotism etc.
ECONOMIC ACTIVITY
NON ECONOMIC ACTIVITY
Write the name of the type of economy when -Resources are owned both by the Government and private individuals.______________
MARKET ECONOMY
PLANNED ECONOMY
MIXED ECONOMY
Write the type of economy when-The government does not interfere in the functioning of the private enterprises.
MARKET ECONOMY
MIXED ECONOMY
SOCIALIST ECONOMY
Consumers enjoy freedom of choice in Capitalist Economies.
TRUE
FALSE
Economic problems do not arise in Mixed Economies.
TRUE
FALSE
An economy includes the activities of buying and selling only.
TRUE
FALSE
Which of the following statements is false?
Domestic trade involves different currencies and same Tax laws.
Domestic trade involves wholesale and retail trade.
International trade involves export and import of services.
Buying a good from pushcart vegetable seller is included in Domestic trade.
Which of the following equation explain Balance of trade?
A Balance of trade = Exports = Imports.
A Balance of trade = Exports - Imports
A Balance of trade = Exports > Imports
A Balance of trade = Exports < Imports
Which of the following is a situation advantageous for trade?
When two countries produce goods at the same cost of production.
When two countries produce goods at the different cost of production.
When two countries trade with same currency.
All of the above
Name the international organization which is involved in supervising international trade.
World Trade Organization
International Monetary Fund
World Bank
United Nations Organisation.
14. When a firm contracts the services of other firms it is known as:
Outsourcing
In sourcing
Labour trade
None of the above.
There are three producers Aman spends $50 to make a wrist watch and Arshan spends $75 to make a wrist watch. Ila spends $90 to make a wrist watch. Who has the absolute advantage?
Ila
Aman
Arshan
None of these
Refer to the image and answer the questions whether which country has Balance of trade?
COUNTRY A
COUNTRY B
COUNTRY C
Refer to the figure in Que No 27 and answer the question whether which country is having Trade deficit?
COUNTRY A
COUNTRY B
COUNTRY C
Refer to the figure in Que No 27 and answer the question whether which country is having Trade surplus?
COUNTRY A
COUNTRY B
COUNTRY C
Countries trade when imported goods are cheaper than the cost of producing that good within the country.
TRUE
FALSE
International trade takes place in the same political environment.
TRUE
FALSE
Domestic trade involves Foreign exchange.
TRUE
FALSE
International traders have to face tax laws of different countries.
TRUE
FALSE
International traders have to face tax laws of different countries.
TRUE
FALSE
There are three producers producing carpet Aman produces with the cost of $40, Anil with the cost of $50 and Ahmed with the cost of $55. Who produces with lesser cost? Can you guess why is it so.
AMAN
ANIL
AHMED
NONE OF THE ABOVE
