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WorksheetsTrial Quiz
Total questions: 25
Worksheet time: 15mins
Who studies economics?
Economicts
Economists
Econologists
Onclogists
Which of the following is a good?
A practical class
An online lesson
An Apple
A poem of a book
Who is known as the Father of Economics?
Phillip Kotler
John Nash
Paul J. Samuelson
Adam Smith
Economics may be defined as:
The science of analyzing the production, distribution, and consumption of goods and services
The basic problem that exists because we as humans have unlimited wants that cannot be met by the limited amount of resources our world has
All the places where goods and services can be exchanged between buyers and sellers
None of the answers are correct
Ms. Lina considers where to build her new bakery, she also factors in the number of other bake shops in the area. If she builds in an area where she is one of many bakeries, she will be forced to charge lower prices in order to compete with the other bakeries already in the neighborhood. This is an example of which economic theory?
The law of macroeconomics
The law of supply and demand
The law of consumer behavior
The law of microeconomics
_____ is the study of business and consumers, while _____ is the study of the economy as a whole.
Macroeconomics; microeconomics
Microeconomics; inflation
Consumer economics; macroeconomics
Microeconomics; macroeconomics
A person who provides a good or service
producer
need
want
consumer
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
Which of the following will increase your profit for selling hot chocolate?
Use expensive materials
Lower the price
Give each buyer more hot chocolate
Use cheaper materials
This means that the government should not interfere in the marketplace.
Laissez Faire
Capitalism
Communism
Socialism
The development of a worldwide economy where resources flow fairly freely across borders.
Globalization
Economy
GDP
Economic Independence
