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Intro - econ

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

The Father of Modern Economics

a)

Adam Smith

b)

Abraham Maslow

c)

Douglas McGregor

d)

John Maynard Keynes

2.

Consuming unit in a market economy.

a)

Firm

b)

Household

c)

Government

d)

Rest of the world

3.

Microeconomics deals with the following except

a)

Minimum wage

b)

Number of ABM students

c)

Unemployment rate

d)

Price of gasoline

4.

The name of the new typhoon.

(a)  

5.

Joe (a)   is the president-elect of the United States of America.

6.

Microeconomics is a branch of economics that examines the whole economy and its aggregates.

a)

True

b)

False

c)

Maybe

d)

I don't know

7.

It is a statement about economic reality that can be supported or rejected by reference to the facts.

a)

Positive

b)

Normative

c)

Social

d)

Applied

8.

The year when Marcos declared the martial law.

a)

1970

b)

1971

c)

1972

d)

1973

9.

It is a finished product which is used to produce other goods.

a)

Land

b)

Labor

c)

Capital

d)

Management/entrepreneur

10.

A Greek philosopher who explained the functions of money.

a)

Socrates

b)

Plato

c)

Aristotle

d)

Epicurus