WorksheetsQz-1
Total questions: 20
Worksheet time: 10mins
Economics
is the study of decision making
is a social science
all of these
examines how people choose among the alternatives available
What does it mean for something to be scarce in economic terms?
We must give up one alternative in selecting another
Its rare and therefore hard to find
It's expensive so few people can afford it
It depends on your self-interest
Which of the following is NOT one of the fundamental economic questions all societies must answer?
What should be produced?
How much power should the government have?
How should goods and services be produced?
For whom goods and services be produced?
Which of the following is an example of an answer to the question "How should goods and services be produced?"
Technology over food production
In an environmentally friendly way
The wealthy should pay more in taxes
The government has a responsibility to provide welfare
What is the VALUE of the best alternative given up in making any choice?
Opportunity cost
Scarcity
Self-interest
How you use your free time
Higher earnings after a training program is an example of
return on an investment
human capital
investment
expenditure
Advanced communication skills is an example of
human capital
return on an investment
investment
social
Which of the following is a characteristic of currency?
portability
durability
divisibility
all of these
Which of the following has intrinsic value?
commodity money
fiat money
commercial bank money
loan
Which of the following is an example of commodity money?
gold
dollars
loans
stocks
________________ represents shares of ownership in a company.
stock
dividend
profit
public company
What is the purpose of diversifying your portfolio?
to earn the highest return for the least risk
to earn a fixed income
to chance losing part of an investment
to buy unpredictable stocks to make a large profit
Which of the following is an example of a speculative stock?
start up tech company
amazon
a mutual fund
growth stocks
Economics
is the study of decision making
is a social science
all of these
examines how people choose among the alternatives available
What does it mean for something to be scarce in economic terms?
We must give up one alternative in selecting another
Its rare and therefore hard to find
It's expensive so few people can afford it
It depends on your self-interest
