WorksheetsCP economics what is economics, role,Basic problem, Resource
Total questions: 53
Worksheet time: 27mins
Which of the following organisation collect data on poverty in India?
Reserve Bank of India (RBI)
National Sample survey organisation (NSSO)
Census of India
None of the above
Find who is the Speaker?
SGSY stands for
Swarna Jayanti Gram Swarozgar Yojana
Swarna Jayanti Shahari Swarozgar Yojana
Swarna Jayanti Gram Swathantrar Yojana
Sampoorna Jayanti Gram Swarozgar Yojana
Identify the programme which aim at improving the food and nutritional status of the poor?
Public Distribution System (PDS)
Integrated Child Development Scheme(ICDS)
Midday meal scheme( MDMS)
All of the above
Which scheme encouraged people to open bank account in 2004?
Integrated Child development scheme
Public distribution system
National old age scheme
Jan Dhan Yojana
Prime Minister in his speech while launching Jan Dhan Yojana mention how many bank accounts are opened in one day?
1.5 crore
2.5 crore
2 crore
None of the above
Which of the following is one of the three basic economic questions?
What price should be set for goods and services?
How can income be shared?
How should goods and services be produced?
How is a budget created?
Increased competition between producers of a good may lead to
a decrease in profit.
an increase in price.
a drop in demand.
a rise in taxes.
Which type of economic system has the highest level of government control?
traditional economy
market economy
command economy
mixed economy
Which of the following is a feature of a good budget?
money reserved for saving
income that is less than its expenses
economic incentives
How do companies make a profit?
They try to increase expenses and decrease revenue.
They try to decrease expenses and increase revenue.
They try to increase expenses and increase revenue.
They try to decrease expenses and decrease revenue.
Economy in which people make economic decisions based on their group's customs and values. Not common today.
Traditional Economy
Market Economy
Command Economy
Mixed Economy
Individual consumers and producers make economic decisions based on the principles of freedom, competition, and profit.
Traditional Economy
Market Economy
Command Economy
Mixed Economy
The central government makes all economic decisions.
Traditional Economy
Market Economy
Command Economy
Mixed Economy
An economic system combining private and public enterprise.
Traditional Economy
Market Economy
Command Economy
Mixed Economy
A desire for a certain good or service.
producer
opportunity cost
supply
demand
___________ is the ability and willingness to produce a good or service.
Producer
Opportunity cost
Supply
Demand
The money or the time you spend on one thing cannot be spent on something else. The cost of what you have to give up.
producer
opportunity cost
demand
supply
The study of how people meet their wants and needs.
economics
supply
demand
opportunity cost
People or businesses that make and sell goods or services.
consumers
producers
principal
superintendent
People or businesses that buy or consume goods or services.
consumers
producers
principal
superintendent
Land, Labor, Capital, and Entrepreneurs
opportunity cost
economic strategy
factors of production
supply and demand
1.) What to produce 2.) How to produce it 3.) For whom to produce for = Basic Economic Questions
True
False
Land, labor, capital, and entrepreneurs = Basic Economic Questions
True
False
It costs less for a consumer to purchase a good using credit than to pay cash for the good at the time of purchase.
True
False
The United States has a mixed economy that is closer to a pure market economy.
True
False
Check all that are factors of production.
Land
Finance
Capital
Labor
Weather
Which person would be considered an entrepreneur?
Employee at Wal-Mart
Railroad worker
Car salesman
Owner of a restaurant
Economics only concerns money.
True
False
Choose the image that is an economic example of "capital".
Which is not a basic economic question?
What to produce
Where to produce
How to produce
For whom to produce
Oxygen, water, and food are economic examples a ........
need
want
good
service
If the economy slows down in the United States, it could also affect the economy of other countries. This is an example of...
Economic outerdependence
Economic interdependence
Economic slowdown
Economic codependency
When you buy an item on eBay, you are utilizing a.....
Standard of living
Free enterprise economy
Market
Enterprise
Scarcity does not help determine price.
True
False
If a business is constantly improving their machinery, worker skills, and time management, they are attempting to improve overall....
leadership
productivity
entrepreneurship
division of labor
Amazon is an example of a......
Storefront
factor
market
magical place that sells anything your heart desires.
