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Economics

Total questions: 10

Worksheet time: 6mins

Name
Class
Date
1.

Goods that are intended for final use by the consumer directly

a)

Capital Goods

b)

Consumer Goods

c)

Mechanical Goods

d)

Utility goods

2.

Goods used in the production of other goods.

a)

Capital Goods

b)

Physical Goods

c)

Consumer Goods

d)

Service Goods

3.

Total amount of satisfaction that a

consumer derives by consuming a product. In other words, it

can be described as the satisfying power of any good or

commodity.

a)

Utility

b)

Value

c)

Wealth

d)

Price

4.

the maximum amount a consumer is willing to pay for

an item in a market economy, or the amount of time an individual will sacrifice waiting

to obtain a government-rationed good in a socialist economy.

a)

Utility

b)

Value

c)

Wealth

5.

amount paid for a product/good/commodity

a)

Value

b)

Wealth

c)

Price

d)

Utility

6.

accumulation of valuable economic resources that can be

measured in terms of either real goods or money value

a)

Utility

b)

Value

c)

Price

d)

Wealth

7.

studies how the

individual parts of the economy make

decisions to allocate limited resources

(a)  

8.

studies about the

functioning of the economy as a whole

It examines the economy through wide-lens.

(a)  

9.

a mixture of

capitalist and Socialist economic systems.

a)

Capitalist Economy

b)

Socialist Economy

c)

Mixed Economy

d)

Communist Economy

10.

Which of the below comes in Primary Economy

a)

Fishing

b)

Service Sector

c)

Dairy

d)

Manufacturing Industries