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Economy 3 level

Total questions: 100

Worksheet time: 51mins

Name
Class
Date
1.

Which of the provisions is not relevant to the definition of the subject of economic theory?

a)

efficient use of resources

b)

unlimited production resources,

c)

maximum satisfaction of needs,

d)

the rarity of the good,

e)

material and spiritual needs.

2.

What factors caused the unavoidable shortage of resources in the administrative command economy?

a)

planned resource allocation,

b)

prices that do not take into account supply and demand in the market,

c)

absence of unemployment,

d)

competition of commodity producers,

e)

freedom of choice and entrepreneurship.

3.

If demand falls, the demand curve shifts:

a)

down and left,

b)

by clockwise rotation,

c)

up and right,

d)

counter-clockwise rotation,

e)

only to the right.

4.

Supply and demand can be used to explain the coordinating role of price:

a)

in the commodity market,

b)

in the resource market,

c)

in the foreign exchange market,

d)

in any market,

e)

on the stock market.

5.

If a decrease in the price by 5% leads to a decrease in the volume of the offer by 8%, then this offer:

a)

inelastic,

b)

unit elasticity,

c)

elastic,

d)

absolutely elastic,

e)

absolutely inelastic.

6.

Most of the markets in the economy of Kazakhstan are:

a)

perfect competition,

b)

unregulated monopolies,

c)

the combination of competitive and monopolistic elements,

d)

regulated monopolies,

e)

natural monopolies.

7.

An oligopoly is a market structure where it operates:

a)

a large number of competing firms producing homogeneous products,

b)

a large number of competing firms producing differentiated products,

c)

only one large firm,

d)

a small number of competing firms,

e)

only one big buyer.

8.

What term reflects the ability and desire of people to pay for something:

a)

requirement,

b)

demand,

c)

necessity,

d)

a wish

e)

inflation

9.

The law of supply, if prices rise and other conditions remain unchanged, manifests itself:

a)

in the growth of the supply

b)

in reducing the supply,

c)

in the growth of the volume of supply,

d)

in the fall of the volume of supply,

e)

in the fall of both supply and demand.

10.

If the price of goods of inelastic demand increased from 7 to 10 tenge, then the revenue:

a)

reduced,

b)

increased

c)

remained unchanged,

d)

absolutely inelastic

e)

absolutely elastic.

11.

Which factor change does not cause a shift in the demand curve:

a)

tastes and preferences of consumers,

b)

the size or distribution of national income,

c)

product prices,

d)

the number or age of consumers

e)

technology improvement

12.

Who introduced the concept of "political economy"?

a)

Adam Smith

b)

Thomas Mann

c)

Antoine Moncretien de Watteville

d)

Aristotle

e)

Robert Owen.

13.

If the supply of goods is inelastic, and the demand for it decreases, then the total revenue of the seller:

a)

growing

b)

reducing

c)

it is reduced if demand is elastic,

d)

it is reduced if the demand is inelastic,

e)

remains unchanged.

14.

Which of the following expressions represents the marginal cost:

a)

ΔTVC: Q

b)

ΔTC: ΔQ

c)

(p Q): ΔQ

d)

TFC: ΔQ

e)

ΔTFC: ΔQ

15.

Technology improvement shifts:

a)

demand curve up and to the right,

b)

the demand curve down and to the right,

c)

the supply curve down and to the right,

d)

the supply curve is up and to the left

e)

it doesn 't shift in any way

16.

If two goods are interchangeable, then an increase in the price of the first will cause:

a)

falling demand for the second product,

b)

growth in demand for the second product,

c)

increasing the volume of demand for the second product,

d)

falling demand for the second product

e)

the drop in supply for the second product

17.

The elasticity of supply depends mainly on:

a)

the number of substitute products for this product,

b)

a period of time during which sellers can adjust to price changes,

c)

whether this product is a necessity or a luxury item,

d)

does this product belong to durable or current consumption items,

e)

the share of the consumer's income directed to the purchase of this product.

18.

The theory of consumer behavior assumes that the consumer seeks to maximize:

a)

the difference between total and marginal utility

b)

overall utility

c)

average utility

d)

marginal utility

e)

each of the listed values

19.

The fixed costs of the company are:

a)

the cost of resources at the prices in effect at the time of their acquisition,

b)

minimum production costs of any volume of products under the most favorable production conditions,

c)

costs incurred by the company even if the products are not produced,

d)

implicit costs,

e)

the costs incurred by the enterprise in the event of an increase in production per unit of production.

20.

Which of the following expressions represents the total cost:

a)

МС

b)

TVC – TFC

c)

TFC + TVC

d)

TFC + TVC + MC

e)

(TFC + TVC): Q

21.

The law of decreasing marginal utility means that:

a)

the ratio of marginal utilities to the prices of luxury goods is less than for essential goods,

b)

the utility brought by each subsequent unit of goods decreases as the number of goods consumed increases,

c)

the ratio of marginal utilities to prices is the same for all goods

d)

the usefulness of the purchased goods decreases as the consumer's income increases,

e)

as the quantity of purchased goods increases, the overall utility increases.

22.

The only variable factor is labor, the rest are fixed: The number of workers, people.:.................0 1 2 3 4 5 6 Output, pcs...............0 40 90 126 150 165 180 Limit product of the 6th worker:

a)

180 pcs.,

b)

30 pcs.,

c)

15 pcs.,

d)

is a negative value

e)

it is impossible to determine based on the available data.

23.

The position and slope of the indifference curve for an individual consumer is explained by:

a)

his preferences and income levels,

b)

only the prices of the purchased goods,

c)

preferences, income amounts and prices of purchased goods,

d)

only his preferences,

e)

the prices of the purchased goods and the amount of income.

24.

The advantages of the administrative command system include:

a)

the possibility of mobilizing human and material resources as priority areas,

b)

weakly expressed social differentiation,

c)

sustained scarcity of resources, including consumer goods and services,

d)

prohibition or restriction of private entrepreneurship,

e)

the dominance of the consumer over the producer.

25.

If a reduction in the price of a product by 1% leads to an increase in the volume of demand for it by 2%, then this demand:

a)

inelastic,

b)

elastic,

c)

unit elasticity,

d)

absolutely inelastic,

e)

absolutely elastic.

26.

Inelastic demand means that:

a)

a price increase of 1% leads to a reduction in demand by less than 1%,

b)

a price increase of 1% leads to a reduction in demand by more than 1%,

c)

any price change does not result in a change in total revenue,

d)

a price increase of 1% does not affect the amount of demand,

e)

any price change affects the amount of demand.

27.

If any quantity of goods is sold at the same price, then the demand for this product is:

a)

absolutely inelastic,

b)

absolutely elastic,

c)

elastic,

d)

inelastic

e)

unit elasticity.

28.

The income effect occurs in the following case:

a)

if people's incomes fall, they buy less of this product

b)

the cheapening of goods leads to the fact that the consumer can buy more of this product without reducing the consumption of other goods

c)

the volume of purchases of some goods decreases as people's incomes increase

d)

as people's incomes grow, they save an increasing part of their income

e)

as people's incomes fall, they save more

29.

In order to get the maximum profit, the monopolist must choose such a volume of output at which:

a)

marginal costs are equal to the price of the product,

b)

marginal costs are equal to total costs,

c)

marginal revenue equals marginal costs,

d)

marginal revenue equals total costs,

e)

average costs are equal to the price of the product.

30.

Which of these goals has an accurate quantitative measurement:

a)

full employment,

b)

economic guarantee,

c)

economic freedom,

d)

competition

31.

Choose a function that is not inherent in the market:

a)

information

b)

pricing

c)

critical

d)

sanitizing

e)

stimulating

32.

If the price of the product is below the intersection point of the demand curve and the supply curve, then there is:

a)

surplus

b)

deficit

c)

rising unemployment,

d)

price growth,

e)

the decline in production.

33.

If the economy is studied as an integral system, then what kind of analysis is used:

a)

macroeconomic,

b)

microeconomic,

c)

positive,

d)

regulatory

e)

deductions

34.

The fundamental question of economics is:

a)

give everyone the opportunity to have five yachts and two cars,

b)

lower unemployment,

c)

learn to cope with the shortage of all resources,

d)

redistribute income and eliminate poverty

e)

limited government intervention in the market mechanism

35.

Problems: what, how and for whom to produce? – may relate to:

a)

only to the administrative command system,

b)

only to a market economy,

c)

only to a backward economy,

d)

to any economic system

e)

to the traditional economy

36.

Labor productivity shows:

a)

labor intensity, which is determined by the degree of labor expenditure per unit of time

b)

how many products are produced per unit of time

c)

time spent on the output of a unit of production

d)

labor intensity

37.

What condition prevents the emergence and functioning of a market economy:

a)

social division of labor,

b)

economic isolation of economic entities,

c)

rigid production and distribution management system,

d)

independence of business entities

e)

the dominance of consumers over producers

38.

Choose a condition that does not correspond to the free market:

a)

unlimited number of participants,

b)

free access to any household.activities,

c)

availability of complete information on the market,

d)

the only manufacturer of any product or service,

e)

free pricing.

39.

Choose the most complete definition of money:

a)

this product is an agreement between people,

b)

this is all that is usually accepted in exchange for goods,

c)

this is a special commodity that is the universal equivalent and has absolute liquidity,

d)

it is a means of accumulating and preserving capital

e)

it is a means of payment for goods and services

40.

Choose the correct definition of inflation:

a)

this is the depreciation of money, accompanied by an increase in commodity prices,

b)

this is an overflow of commodity-money circulation channels with an excessive amount of defective money

c)

this is a strengthening of the currency, accompanied by a fall in prices

d)

when the state refuses to fulfill its obligations

41.

The law of demand assumes that:

a)

excess of supply over demand will cause a decrease in price,

b)

if consumers' incomes grow, they usually buy more goods,

c)

the demand curve usually has a positive slope,

d)

when the price of a product falls, the volume of planned purchases increases,

e)

excess of demand over supply will cause the price to rise.

42.

The value that generates income and which can be expressed in monetary, tangible and intangible assets is called:

a)

labour

b)

mental abilities,

c)

capital

d)

money

e)

land

43.

When economic problems are solved partly with the help of economic mechanisms, partly on the basis of state intervention, then the economy:

a)

traditional

b)

command

c)

mixed

d)

market

e)

transit

44.

There are five types of needs in the modern economy. What kind of needs occupies the third step from the lowest to the highest:

a)

the need for self-esteem, achievement of goals

b)

the need for security

c)

the need for social connections and relationships

d)

physiological

e)

the need to comprehend the purpose of life, the realization of their abilities

45.

Conditions of equilibrium of a firm with perfect competition:

a)

AC = TC = P

b)

AFC = TFC = P

c)

AC = ТC = MR < P

d)

MR = MC = AC = P

e)

AC = MC < MR < P

46.

If the market price is higher than the equilibrium, then:

a)

there are surpluses of goods,

b)

there is a shortage of goods,

c)

the buyer's market is being formed,

d)

the price of resources is falling

e)

unemployment is increasing

47.

If the supply and demand for a product increase, then:

a)

the price will rise

b)

the total quantity of goods will increase

c)

the price will remain stable

d)

the welfare of society will increase

e)

the inflation rate will increase

48.

Select a function that is not related to the functions of economic theory:

a)

critical

b)

practical

c)

intermediary

d)

prognostic

e)

methodological

49.

Which of the definitions of the market seems to you the most convincing:

a)

the market is a system of relations in which the connections of buyers and sellers are so free that prices for the same product tend to equalize quickly

b)

the market is a sphere of exchange within a country and between countries, connecting producers and consumers of products

c)

a market is a territory, a geographical space within which the purchase and sale of goods takes place

d)

the market is a system organized according to the laws of commodity production and circulation, a set of commodity exchange relations

e)

the market is a place where buyers and sellers meet

50.

The ability of the goods to be exchanged in certain proportions is:

a)

consumer value

b)

exchange value

c)

specific utility

d)

public use value

e)

abstract utility

51.

If in some industry one buyer controls the vast majority of the market, then competition is established, bearing the name:

a)

oligopoly

b)

monopoly

c)

perfect competition

d)

monopolistic competition

e)

monopsony

52.

Who was the founder of the theory of market economy:

a)

K. Marx

b)

Aristotle

c)

Adam Smith

d)

Thomas Mann

e)

Robert Owen

53.

In the short term, the company produces 500 units of products. The average variable costs are $2, the average fixed costs are $ 0.5. The total costs will be:

a)

2.5 dollars

b)

1250 dollars

c)

750 dollars

d)

1100 dollars

e)

250 dollars

54.

In the long term:

a)

all costs are variable

b)

all costs are constant

c)

variable costs are rising faster than fixed costs

d)

fixed costs grow faster than variable costs

e)

all costs are implicit

55.

The increase in consumer income is graphically expressed:

a)

in changing the slope of the budget line

b)

in a parallel shift of the budget line to the right - up

c)

in a parallel shift of the budget line to the left - down

d)

in reducing the slope of the budget line

e)

in increasing the slope of the budget line

56.

The manufacturer of product X reduced the price of its product by 5%, resulting in a 2% increase in sales. The demand for this product is:

a)

elastic

b)

inelastic

c)

unit elasticity

d)

absolutely elastic

e)

absolutely inelastic

57.

What constitutes the productive forces of society:

a)

means and objects of labor

b)

labor force and means of production

c)

manufactured finished products

d)

natural resources used in production

e)

equipment used in production

58.

The subject of the study of economic theory is:

a)

people's activities for the exchange of goods and services

b)

variables whose behavior affects the state of the economy

c)

relations between people about the rational use of limited resources in the production process

d)

studies money, capital and the banking system

e)

profit earned in the country's economy

59.

The willingness to buy additional units of manufactured goods only at a lower price best explains:

a)

substitution effect

b)

the principle of decreasing marginal utility

c)

income effect

d)

the law of supply

e)

low income effect

60.

Which of the above studies microeconomics:

a)

production on the scale of the entire economy.

b)

the number of people employed in the economy of the country.

c)

the general price level.

d)

sugar production and its dynamics.

e)

credit and banking system

61.

Which of the following expressions represents the equilibrium condition of a firm with imperfect competition:

a)

ТС=ТR

b)

AC=МС=МR=Р

c)

МС=МR<АС

d)

МС

e)

АС=ТС=МС<Р

62.

Increasing corporate taxation shifts:

a)

demand curve to the right and down

b)

the supply curve to the right and down

c)

the demand curve to the left and up

d)

the supply curve to the left and up

e)

does not cause a shift in the supply curve

63.

What function does money perform when buying goods for cash

a)

measure of value

b)

means of circulation

c)

means of accumulation

d)

world money

e)

means of payment

64.

What properties does the product have:

a)

cost

b)

price

c)

consumer value and exchange value

d)

price and consumer value

e)

cost and price

65.

If, despite the change in the price of the goods, the total revenue does not change, the coefficient of price elasticity:

a)

more than 1

b)

less than 1

c)

equal to 0

d)

equal to 1

e)

equal to infinity

66.

What is the essence of the law of value. Production and exchange of goods is carried out in accordance with:

a)

with the supply and demand for them

b)

with the degree of their usefulness

c)

with production costs

d)

the utility of the product and the costs of its production in the aggregate

e)

only with utility

67.

The general level of prices and unemployment in the economic system is studied in the course:

a)

microeconomics

b)

macroeconomics

c)

management

d)

international finance

e)

analysis of economic activity of enterprises

68.

Which of the following lines never takes a U–shape?

a)

AVC

b)

МС

c)

АFC

d)

АТС

e)

LАТС

69.

The absolutely elastic demand curve is:

a)

horizontal line

b)

vertical line

c)

a curved line

d)

a straight line with a negative slope

e)

a curved line with a positive slope

70.

The only variable factor is labor, the rest are fixed: The number of workers, people.:.................0 1 2 3 4 5 6 Output, pcs...............0 40 90 126 150 165 180 The marginal product will start to shrink when hired:

a)

6th worker.

b)

4th worker.

c)

3rd worker.

d)

2nd worker.

e)

1st worker.

71.

Which of the schools of economic theory was historically the first:

a)

marxism

b)

mercantilism

c)

petty - bourgeois political economy

d)

Keynesianism

e)

classical political economy

72.

The function of the market that encourages the producer to save is called:

a)

intermediary

b)

sanitizing, creative - destructive

c)

regulatory

d)

stimulating

e)

pricing

73.

Which of the definitions most fully characterizes the subject of general economic theory:

a)

this is the science of the dynamics of a person's material and spiritual needs

b)

this is the science of motivating human behavior

c)

this is the science of production and the criteria for the distribution of goods produced

d)

this is the science of natural wealth

e)

this is the science of the most general laws of human society development in conditions of limited resources.

74.

The ultimate utility is:

a)

the ability of a good to satisfy a particular human need

b)

subjective assessment of the good by the individual

c)

the sum of the utilities of equal parts of the good

d)

the least urgent need satisfied by the last consumed instance of the good of this product

e)

the utility of the good increases as the amount of the acquired good increases.

75.

If the production is carried out in the interests of an individual, then this is:

a)

collective ownership and collective appropriation

b)

private property and private appropriation

c)

public ownership and public appropriation

d)

state ownership and state appropriation

76.

The economic model can be characterized taking into account:

a)

forms of management

b)

the economic role of the state

c)

prevailing forms of ownership

d)

places and roles of the market in the economic system

e)

all the answers are correct.

77.

With an increase in the number of units of the good available to the consumer, the overall utility of this good:

a)

decreases

b)

increases

c)

remains unchanged

d)

all the answers are wrong

e)

decreases or increases

78.

Which of the listed benefits have absolute liquidity:

a)

real estate

b)

stocks

c)

bonds

d)

money

e)

essential goods.

79.

If the nominal value of money does not change, and the prices of goods and services increase by 2 times, then the purchasing power of money:

a)

it will increase by 2 times

b)

it will fall by 2 times

c)

it will fall 4 times

d)

won't change

e)

it will increase by 1.5 times.

80.

Competition is:

a)

the struggle of producers for the highest profit

b)

consumers' struggle for the right to buy goods at lower prices

c)

economic competition for achieving the best results in any field

d)

the driving force of the market

e)

all the answers are correct

81.

The dissemination of information that is false or discrediting a competitor's goods is an element:

a)

free (perfect) competition

b)

imperfect competition

c)

unfair competition

d)

non-price competition

e)

fair competition

82.

The opportunity costs of a new stadium are:

a)

payment for security and other personnel

b)

the price of the stadium construction next year

c)

change in the real tax rate that is paid from the stadium's income

d)

the price of other goods and services, the production of which is sacrificed for the construction of this stadium

e)

the cost of materials spent on the construction of the stadium.

83.

If, when the price of this product decreases, its purchases sharply increase, then the demand for this product:

a)

elastic in price

b)

inelastic in price

c)

income elastic

d)

we are talking about cross elasticity

e)

absolutely elastic.

84.

If two goods are interchangeable, for example tea and coffee, then an increase in the price of coffee will lead to:

a)

falling demand for tea

b)

the growth of demand for tea

c)

increasing the volume of demand for tea

d)

reducing the amount of demand for tea

e)

the increase in the supply of coffee.

85.

Moderate inflation is an increase in prices per year of about:

a)

1-10%

b)

over 200%

c)

15-20%

d)

20-100%

e)

100-200%.

86.

The document in which all the owners of the company's shares are named is called:

a)

certificate

b)

charter

c)

registry

d)

allongem

e)

contract

87.

The supreme management body of the joint - stock company is:

a)

board of directors

b)

meeting of commissioners

c)

general meeting of shareholders

d)

meeting of holders of preferred shares

e)

meeting of bondholders.

88.

What are the conditions for the emergence of commodity production:

a)

spontaneous development of production and exchange

b)

social division of labor and economic isolation of commodity producers

c)

private ownership of the means of production

d)

availability of goods and money

e)

the appearance of taxes.

89.

The concept of variable and fixed costs only takes place:

a)

in the short term

b)

in the long term

c)

for a monopolist firm

d)

for a market of perfect competition

e)

for a monopsonist firm.

90.

Fixed costs are:

a)

salary costs of management personnel, security, % on loans, depreciation of equipment

b)

the cost of workers' salaries, security, the cost of raw materials and equipment

c)

labor costs of employees, depreciation of equipment, rental payments

d)

costs of raw materials, electricity, rent, % on the loan

e)

depreciation costs, % on loans, electricity, salary of management personnel.

91.

Variable costs are:

a)

costs that occur regardless of changes in production volume

b)

changing depending on the change in production volume

c)

explicit and implicit costs

d)

opportunity costs of production.

e)

costs associated with the production of an additional unit of production.

92.

What is characteristic of the economic way of thinking :

a)

the ability to correctly understand the trends of economic development of society

b)

the ability to understand the essence and methods of implementing the economic policy of the state

c)

correct assessment of the place of its activities in the overall development of the country's economy

d)

the ability to really assess the essence and consequences of specific economic processes and phenomena

e)

all positions are correct

93.

In order to get the maximum profit, the monopolist must choose such a volume of output at which:

a)

marginal costs are equal to the price of the product

b)

marginal costs are equal to total costs

c)

marginal revenue equals marginal costs

d)

marginal revenue equals total costs

e)

average costs are equal to the price of the product

94.

The average fixed costs are:

a)

costs of raw materials, equipment, salary

b)

accounting costs per unit of production

c)

fixed costs per unit of production

d)

economic costs per unit of production

e)

variable costs per unit of production.

95.

A form of management in which the production of material goods is carried out only for its own consumption is:

a)

market

b)

mixed

c)

natural

d)

commodity

e)

administrative and command.

96.

Marginal income is:

a)

gross revenue per unit of sales

b)

gross income per quantity of products produced

c)

revenue changes as a result of changes per unit of sales

d)

the product of the price by the quantity of products

e)

unit of total revenue

97.

The conditions for maximizing profits for a firm are equality:

a)

gross income and gross costs

b)

average income, average costs and prices

c)

marginal income and marginal costs

d)

marginal income, marginal costs and prices

e)

total costs and prices.

98.

The only variable factor is labor, the rest are fixed: The number of workers, people.:.................0 1 2 3 4 5 6 Output, pcs...............0 40 90 126 150 165 180 The average product reaches its maximum value when occupied:

a)

6 workers.

b)

5 workers.

c)

4 workers.

d)

3 workers.

e)

2 workers.

99.

Inflation manifests itself:

a)

in the growth of the general price level and the growth of real incomes of the population

b)

in the growth of the general price level and the fall in real incomes of the population

c)

in the growth of real and nominal incomes of the population

d)

only in the growth of the general price level without changing real incomes

e)

falling nominal incomes of the population.

100.

The real value of the amount of taxes received by the state in conditions of inflation, as a rule:

a)

growing

b)

decreases

c)

does not change

d)

it has nothing to do with inflation

e)

it changes inversely with the rate of inflation.

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