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WorksheetsTEST Economics Year 10
Total questions: 12
Worksheet time: 6mins
Which of the following characteristics is essential for money to be regarded as good?
It is generally acceptable
It is not easily divisible
Its value never changes
There is unlimited supply
Which function of money is most appropriate for buying on credit?
A measure of value
A means of deferred payment
A medium of exchange
A store of value
Which of the following is a function of a central bank?
Act as a lender of last resort
Buys and sell equities
Offers savings accounts
Provides customers with a current account
Which of the following is a function of commercial bank?
Making advances
Manages payments to and from the government
Manages the national debt
Operates the government's monetary policy
Which of the following is a wage factor?
Level of experience
Hours of work
Job security
Piece rate
Which of the following is likely to increase the power of a trade union in wage negotiations with employers?
The demand for labour in that occupation is declining
The rate of inflation in the economy is very low
The supply of labour in that occupation is declining
The supply of labour in that occupation is rising
The extent to which workers specialize is dependent upon the:
division of labour
hours of work
proportion of workers in a trade union
size of the market for a product
The savings ratio in an economy will fall if:
borrowing declines
income tax is lowered
interest rates are increased
spending by consumers rises.
Which of the following represents workers from many different occupations and industries?
Industrial union
General union
Craft union
Professional association
Which of the following is expressed as an annual figure?
Wage
Salary
Commission
Piece rate
A country needs more doctors. How could an increase in the supply of doctors be encouraged in a mixed economy but not in a market economy?
private medical colleges can offer more courses
increase statutory minimum pay for doctors
course fees for medical students could be raised
subsidies paid to teaching hospitals could be cut
A mixed economy has
a primary sector and a secondary sector
consumer goods and capital goods
a financial sector and an industrial sector
a private sector and a public sector
