WorksheetsThe Market System
Total questions: 6
Worksheet time: 4mins
Name
Class
Date
1.
The size of an economy depends on the
a)
The government
b)
The number of people involved
c)
Size of the geographical area
d)
Both a) and b)
2.
Petrol used for a Drag Race is an example of
a)
Efficient Resource Allocation
b)
Scarcity
c)
Inefficient Resource Allocation
d)
Opportunity Cost
3.
A (a) works to allocate scarce resources efficiently through the forces of demand and supply.
4.
Determine the equilibrium price from the given picture.
a)
$ 6000
b)
$ 1000
c)
$ 4000
d)
$ 3000
5.
Market equilibrium is disturbed when:
i) Supply Exceeds demand
ii) Supply is equal to demand
a)
Both i) and ii) are correct
b)
Only i) is correct
c)
Only ii) is correct
d)
None of the options are correct
6.
How many questions did you answer correctly?
a)
Only 1
b)
2 to 3
c)
Almost perfect
d)
Excellent Learning Today
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