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WorksheetsINTRODUCTION TO ECONOMICS
Total questions: 14
Worksheet time: 5mins
The state of reduced efficacy that occurs when there is an excessive or unlimited number of options.
Decision-making stress
Decision trauma
Decision fatigue
Decision pressure
Based from our discussion, the famous personality who wears the "iconic gray shirt" which apparently costs $300 to $400!
Steven Spielberg
Jeff Bezos
Steve Jobs
Mark Zuckerberg
This best describes the state of our resources on earth.
Unlimited
Scarce
Infinite
None of the above
Economics is from the Greek word Oikonomia which means ___.
Household management
Budgeting skills
Decisiveness
Human resource management
Economics is a branch of the Social Sciences so as __.
History
Astrology
Biology
Literature
The branch of Economics that talks about the behavior of consumers, producers and the market.
Micros
Macros
Microeconomics
Macroeconomics
The branch of Economics that tackles the aggregate activities of governments, industries and households.
Micros
Macros
Microeconomics
Macroeconomics
Which is a social choice?
Celebrities flying their private jet instead of a commercial flight.
North Korea spending more on defense than social services.
Abby choosing a Prada bag over a Gucci bag.
All of the above
Gain from a choice made.
Trade off
Competitive advantage
Benefit
Invisible hand
The two goals of Economics.
Interfere with government decisions and increase freewill.
Respond to individual choice and budgeting.
Answer the question of who to produce for and how to produce.
Supply unlimited needs and satisfaction.
The term used to describe how humans are/cannot be satisfied.
Inseparable
Insatiable
Insane
Introvert
This is an example of non-material resource.
Tears
Rice
Money
Time
For a "healthier" and cheaper option, swapping beef for tofu is an example of __.
Caloric deficit
Trade-in
Barter
None of the above
This is an example of individual choice.
The Department of Education gets the biggest chunk of the country's budget.
RA 10931 or the "Universal Access to Quality Tertiary Education Act".
Farmers will be given subsidies by the government so they can improve their yield.
Amanda buys only clothes that are ethically made.
