WorksheetsQUIZ - COMMERCE 8A (Assessment 2)
Total questions: 10
Worksheet time: 6mins
Modern economics is based on the theory 'Scarcity and Choice'.
Select the incorrect statement about scarcity and choice.
All goods are scarce in relation to people's desire for them.
Scarcity refers to the availability of resources while choice refers to people's decisions about sharing and using those resources.
Scarcity is not a worldwide problem.
Which is not a benefit of the division of labour?
Increases flexibility of the workforce.
Increased efficiency of workers.
Reduced total costs of producing.
An example of a mobile shop.
Truck carrying toiletries to the supermarket.
A van selling ice-cream.
A kiosk in the market.
A shop selling mobile phones
The definition of a retailer is one who:
Sells in large quantities
Sells raw materials.
Sells goods and services to consumers.
Sells goods and services to wholesalers.
Select the correct statement.
A Sri Lankan buying a car from Japan is a visible export.
International trade decreases the production of goods .
Imports help the consumers to have a smaller variety of goods.
With international trade a country can sell its surplus of the products to other countries.
Select the advantage of privatization.
Creates a divided society.
Enhanced productivity.
Higher costs to consumers.
Which of the following is not a characteristic of a public corporation?
General control is under a minister responsible to parliament.
Assets are privately owned.
They are not required to make a profit.
A company that purchases computers is investing in which factor of production
Capital
Land
Labor
Entrepreneurship
Name of the stock exchange in Sri Lanka
(a)
All members of a retail co-operatives have voting rights
(a)
