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WorksheetsPEC2174- MICROECONOMICS
Total questions: 20
Worksheet time: 10mins
Economics is the study of how __________________________.
we choose to use unlimited resources.
unlimited resources are used to satisfy scarce wants.
society uses abundant resources to satisfy unlimited desires.
scarce resources are used to satisfy unlimited wants.
Economic problem arises due to
Limited resources
Unlimited wants
Alternative uses of resources
All of the above
Refer to the study of the economic behaviour of individual components like industries, firms, and households.
Macroeconomics
Consumer Behaviour
Microeconomics
Positive Economics
It is the main reason why there is a study of microeconomics.
Resources
Scarcity
Household
Profit
The following are the factors of production, except:
Land
Labor
Fish Pond
Capital
When the population in a city increases, the demand will: increase or decrease?
Microeconomics deals with
Government intervention
individual choice
All of the above
The fact that human wants cannot be fully satisfied with available resources is called problem of __________________.
scarcity
choices.
opportunity cost.
none of the above.
All the following are the Basic Economic Problems EXCEPT ________________.
What product should be produce?
Where product should be produce?
For whom product should be produce?
How product should be produce?
In order to save cost, the “Milk Industry” should use more labour than machine. This statement refers to ______________.
What product should be produce?
Where product should be produce?
For whom product should be produce?
How product should be produce?
Wants are
Things you essential for survival
Food, clothing, shelter
Desires that are not essential to survive
Air, water, food
Which of the following would be studied in microeconomics?
Total numbers of workers employed in a country
The general level of prices in the Malaysian economy
The output of the entire economy
The output and price of chicken in Malaysia
Hint: think of the soda market
