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WorksheetsYear 8 Economics Weeks 1 - 4
Total questions: 20
Worksheet time: 10mins
Which of the following is not a want?
iPhone
Swimming pool
Water
Laptop
Which of the following is not a need?
Water
Food
Shelter
Hair dye
is the study of how limited resources are used to satisfy limited wants.
Microeconomics
Macroeconomics
History
Economics
What is the basic problem of economics?
Not enough money
Scarcity
Being in debt
Unemployment rising
Which of the following is not a factor of production?
Money
Labour
Capital
Entrerprise
Which of the following is not a type of economic system?
Mixed
Market
Command
Supermarket
A hammer is an example of which factor of production?
Capital
Labour
Enterprise
Land
Water is an example of which factor of production?
Capital
Land
Labour
Enterprise
Which market are shares exchanged in?
Housing Market
Foreign Exchange Market
Labour Market
Stock Market
A manager is an example of which factor of production?
Land
Capital
Money
Enterprise
The individuals and consumers who work for businesses are part of which sector?
The Business Sector
The Household Sector
The Government Sector
The Financial Sector
Which type of economic system is also known as communism?
Mixed Economy
Unplanned Economy
Command Economy
Market Economy
Which type of economic system is also known as capitalism?
Mixed Economy
Planned Economy
Command Economy
Market Economy
The economic system in which the government solely decides what goods and services will be produced.
Mixed Economy
Market Economy
Command Economy
Traditional Economy
The economic system in which decisions are entirely made by individuals.
Market Economy
Command Economy
Traditional Economy
Mixed Economy
Which level of government is responsible for the Goods and Services Tax?
Local
State
Federal
The type of tax applied to a firm's profit:
Stamp duty
Payroll tax
GST
Company income tax
The tax that is applied to most goods and services purchased by consumers:
GST
Stamp Duty
Individual income tax
Fuels excise
Which of the following did the Australian government plan to spend most of their money on in 2019-2020?
Health
Education
Social security & welfare
Defence
Which of the following sectors provides public goods and services?
Firms sector
Household sector
Government sector
