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WorksheetsKD CONTEST
Total questions: 25
Worksheet time: 25mins
Which of the these economists died in 1984?
J.S. Mill
Alfred Marshall
Adam Smith
Lionel Robbins
Which of the following proves that resources are scarce?
Resources are endless
Resources are limited in demand
Resources are limited in supply
Resources have opportunity cost
Which is best explains opportunity cost?
the best alternative selected
the most alternative forgone
the least alternative selected
the best alternative unselected
Which is in the right order?
distribution, production, consumption, and exchange
production, exchange, consumption, distribution
production, consumption, exchange, and distribution
production, exchange, distribution, and consumption
At what point on the PPC are all resources used for the production of consumer goods?
1
2
7
6
What is the mean of 10, 10, 10, 5, and 5?
10
5
8
0.8
Which shows the productivity of each worker in a firm?
increase in average product
decrease in average product
increase in marginal product
increase in total product
How many cupcakes were produced on Tuesday?
3
2.5
12
15
Why is physical land a scarce commodity despite it being a free gift of nature?
There are more people than land
There is more land than people
People usually have to pay rent to use land
Land is always used for production
What method of production is best for less bulky goods?
job
batch
mass
flow
What is the median of 1, 5, 2, 11, 22, 6, 8, and 4
5
10
11
22
At what point is production not attainable?
1
2
4
6
What type of production is Nigeria focused on in her exports?
secondary
primary
tertiary
What factor of production earns interest?
labour
enterprise
capital
land
What type of graph is this?
component bar chart
simple bar chart
multiple bar chart
horizontal bar chart
What factor of production is a building?
labour
enterprise
capital
land
What type of production are these two involved in?
primary
secondary
tertiary
Three workers used one oven to bake thirty cakes in a day, what is the average product of capital for that day?
30
10
3
1
For producers to maximize profit, which of the following is the best advice?
reduce cost and revenue
increase cost and revenue
increase revenue and reduce cost
reduce revenue and increase cost
At what point on the PPC are resources not efficiently utilized?
1
2
4
7
Which is the least mobile factor of production?
labour
capital
enterpreneurship
land
What type of graph is this?
scattered graph
line chart
dotted chart
angle graph
What method of production is the least likely to be used when producing an airplane?
job
batch
flow
Which of the following is not an economic agent in microeconomics?
government
firms
households
What skill in economics is the most relevant to the year 10 students of Meadowlands Schools?
creativity
rationality
dignity
