WorksheetsEconomics trial FDP
Total questions: 16
Worksheet time: 11mins
Scarcity definition of economics is given by
Adam Smith
Alfred Marshall
Joan Robinsonson
Paul Samuelson
Inflation =
A sustained change in the general price level
A rise in prices
Prices rising at a positive rate
A sustained rise in the general price level
The basic economic problem
We have limited resources and too many wants
We have limited land and an expanding labour force (population)
We have infinite wants and the life is unsustainable
We have infinite wants but finite resources
When price rises due to excess amount of consumers wishing to consume
Cost push inflation
Demand pull inflation
Money supply inflation
Disinflation
ILO's definition of unemployment
People without a job but are ready to start one with 14 days, been actively seeking a job in the last 4 weeks or waiting to start a job they obtained.
People without a job but are ready to start one with 10 days, been actively seeking a job in the last 3 weeks or waiting to start a job they obtained.
People without a job but are ready to start one with 28 days, been actively seeking a job in the last 8 weeks or waiting to start a job they obtained.
People without a job but are ready to start one today, been actively seeking a job in the last 2 weeks or waiting to start a job they obtained.
Related to money, this is the money that you make.
Income
Expense
Credit
Save
If there is an increase in supply, which way will the curve shift?
Left
Right
Taxes make producers want to supply less.
True
False
Which of the following is not a capital good?
Technology
Human resources
Machinery
Resources
Related to money, this is the money that you spend.
Income
Expenses
Credit
Spend
Something you do with money you’ve earned. The goal is to have more money in the future than you do now.
Save
Invest
Spend
Borrow
Father of economics is
(a)
Draw the demand curve
Which of the following is the primary factor influencing consumption?
Income
Tastes
Habits
Price of related commodities
