WorksheetsComparative Economics
Total questions: 15
Worksheet time: 8mins
It is the system of production, allocation, and consumption of goods and services.
Economy
Economics
Inflation
Trade
The following sentences are the definitions of Economics EXCEPT:
The study of production, distribution, and consumption of products and services.
The study of how people use resources and respond to incentives
The study of how people manage the limited resources to satisfy their unlimited needs.
The study of social institutions and human behavior.
The process
of improving the quality of all
human lives and capabilities
by raising people’s standard
of living.
Development
Politics
Revolution
Restructure
The following choices are the reasons why low birthrates is dangerous for a country's economy EXCEPT.
Lowers production output due to shrinking work force.
The number of dependents (pensioners) will increase, increasing the burden for the workforce.
Lowers a country's tax rate due to the decreasing pool of taxable work force.
The increase of immigration of foreign workers due to meet production needs.
Rebecca is a BSED-Social Studies graduate but now works as a dishwasher at McDonald's. Her situation is an example of:
Unemployment
Underemployment
Discouraged Worker
Seasonal Worker
According to WTO, which of the following is an example of a Developing Country.
China
Singapore
South Korea
Japan
Communist Countries are generally called:
The First World
The Second World
The Third World
The Third Reich
Communism is an example of:
Controlled Economy
Free Market
Mixed Economy
Capitalism
Filipino Businesses are free to operate on their own, however, they must abide to the government's rules and regulations. This would mean that the Philippine Economy is an example of:
Mixed Economy
Free Market
Controlled Economy
Communist
France and Germany both shared a currency called:
Euro
Pound
Peso
Zloty
Why can't we just print money as many as we want?
It lowers the value of the currency thus increasing inflation.
It increases the value of the currency which makes exports expensive.
The balance between the rich and poor will be gone.
The power of the banks will increase which pose a threat to the government.
It is the overall limitation of available resources.
Shortage
Scarcity
Short Supply
Surplus
The lack of supply of a given product in a short amount of time.
Shortage
Scarcity
Short Supply
Surplus
Which of the following countries is classified as 'Newly Industrialized Country'?
Philippines
Myanmar
Cambodia
Nepal
Which of the following countries is NOT an example of a Developed Country?
Russia
Lithuania
Estonia
Latvia
