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WorksheetsChapter 2: 10 nguyên lý Kinh tế học
Total questions: 15
Worksheet time: 8mins
What do the first four principles of economics address?
How people make decisions.
How the economy operates.
How people interact with each other.
All of the above are correct.
In economics, the cost of something is?
The amount of money spent to acquire it
What you have to give up to get it
Always measurable in terms of the units of time sacrificed to obtain it
Often cannot be quantified
What is a rational person?
A person with ambition.
A person with reasoning.
A conservative person.
Strives to do their best to achieve their goals systematically and purposefully.
When does a rational person decide to take action in front of each choice?
Marginal benefit = Marginal cost.
Marginal benefit < marginal cost
Marginal cost is twice the marginal benefit
Marginal benefit > marginal cost
What does a rational decision at the margin mean?
Make decisions that do not incur marginal costs.
Compare marginal benefits and marginal costs of each decision.
Evaluate whether a decision can be easily changed if issues arise.
Always calculate the marginal costs for each decision.
Rational people are very sensitive to incentive motives. So what is an incentive motive?
Factors that urge people to act (punishment or reward)
Factors that make people save more.
Factors that make people consume more.
All of the above are incorrect.
What do principles 5, 6, and 7 of Economics talk about?
How people make decisions.
How people interact with each other.
How the economy operates.
How the government intervenes in the economy.
Which of the following statements accurately describes trade?
Trade can benefit all countries.
Trade can benefit some countries more than others and harm some.
Trade can only benefit a country more when the goods being exchanged are those that the country cannot produce itself.
Trade benefits wealthy countries and harms poor countries.
In a market economy, who makes the decisions for most economic activities?
Businesses.
Households.
Government.
Businesses and households.
The theory of the "invisible hand" by Adam Smith refers to what content?
The government should intervene in the economy to bring about equality.
The government should intervene in the economy to achieve efficiency.
Businesses and households should be allowed to interact freely in the market, which will help maximize social benefits.
The government should use tax tools to intervene in the economy.
If the theory of the "invisible hand" is effective, why do we still need the government?
The government protects property rights.
Promotes efficiency.
Promotes equality.
All of the above are correct.
"Market failure" occurs due to which reason?
Externalities and market power.
Externalities and foreign competition.
Inaccurate forecasts about consumer demand.
All of the above are incorrect.
What do the last three principles (8, 9, 10) of Economics discuss?
How to build a brand for a business.
How the government deals with inflation.
How the economy operates.
How to increase household income.
What is inflation?
The increase in the output of goods and services
The decrease in the income of workers
The increase in the value of currency
The increase in prices and the decrease in the value of currency.
According to the principle 10 of Economics, in the short term, what trade-off does society face?
Consumption and savings
Efficiency and equality
Inflation and unemployment
Environmental pollution and economic development
