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WorksheetsĐỀ ÔN LUYỆN KINH TẾ VI MÔ SỐ 1
Total questions: 40
Worksheet time: 20mins
Which economic concept cannot be explained by the production possibility frontier (PPF)?
A. Concept of opportunity cost.
B. Concept of supply and demand.
C. Law of increasing opportunity cost.
D. Idea of scarcity.
Which of the following statements is true regarding the role of an economist?
A. An economist is a policy advisor.
B. An economist is a scientist.
C. When trying to explain the world, an economist is a policy advisor; while when striving to improve the world, they are a scientist.
D. When trying to explain the world, an economist is a scientist; while when striving to improve the world, they are a policy advisor.
What does microeconomics study?
A. Activities that occur throughout the entire economy.
B. The general price level of a country.
C. How individuals, businesses, and households make decisions and interact with each other.
D. How to reduce the inflation rate of a country.
Which of the following statements belongs to macroeconomics?
A. The unemployment rate in Vietnam is 2.23% in 2023.
B. Vietnam's GDP growth in 2023 is 5.05%.
C. The revenue growth rate of Vingroup Group is 16% in 2023.
D. Answers A & B are both correct.
Which of the following belongs to microeconomics?
A. The current unemployment rate in Vietnam is high.
B. Economic profit is the driving force attracting new businesses to enter the production industry.
C. Fiscal policy and monetary policy are tools for the government to regulate the economy.
D. The GDP growth rate of Vietnam in 2023 is 5.05%.
Which of the following statements is a normative statement?
A. The GDP growth rate in Vietnam in 2023 is 5.05%.
B. The inflation rate in Vietnam in 2023 is 3.25%.
C. If the government prints more money, inflation will increase.
D. The government should reduce VAT to stimulate the economy.
Which of the following statements is a positive statement?
A. The government should provide free medicine for the elderly and children.
B. The government should increase the minimum wage in 2024.
C. Vietnam should focus on investing in infrastructure to attract foreign direct investment (FDI).
D. The GDP growth rate in Vietnam in 2023 is 5.05%.
Which analytical tool describes the different combinations of two goods that can be produced when resources are used efficiently?
A. Production Possibility Frontier (PPF).
B. Circular flow model.
C. Supply curve.
D. My answer is the same as the one next to me.
In the circular flow model, in the market for factors of production, who is the seller and who is the buyer?
A. Enterprises sell, households buy.
B. Enterprises buy, households sell.
C. Enterprises sell, Government buys.
D. Enterprises and households sell, Government buys.
On the production possibility frontier (PPF):
A. Points on the PPF represent an economy that is producing efficiently.
B. Points inside the PPF represent an economy that is producing inefficiently.
C. Points outside the PPF represent an economy that cannot be achieved due to insufficient production resources.
D. I see that all of the above statements are correct.
The ability of households to enjoy goods in the economy is determined by:
A. Goods market.
B. Land market.
C. Market for production factors.
D. None of the above is correct
You decide to spend 3 hours this afternoon from 6 PM to 9 PM to go on a date with your partner. If you don't go, your partner will be upset, so you decide to go on the date. Knowing that during these 3 hours, on a normal day, you could choose to teach extra classes for a salary of 50,000 VND/hour or work part-time at the GS25 convenience store for a salary of 25,000 VND/hour. So what is the opportunity cost of going on a date for 3 hours?
A. 50,000.
B. 150,000.
C. 75,000.
D. 225,000.
In the first 4 principles (principles 1, 2, 3, 4) of the "10 principles of economics", what do they talk about?
A. How the economy operates.
B. How a country manages its resources effectively.
C. How people interact with each other.
D. How people make decisions.
Last weekend, you had the opportunity to go to Coopmart supermarket with your family to relax and have fun after a stressful week of studying. Your family really enjoys drinking Trung Nguyên G7 instant coffee, and usually, you would buy 2 boxes of Trung Nguyên coffee to use, knowing that the selling price of 1 box is 50,000 VND. However, this time the supermarket is having a promotion, buy 3 boxes and you will receive a premium Trung Nguyên ceramic cup, knowing that the market price of this ceramic cup is 75,000 VND. If you assume you are a rational person, would you decide to buy 3 boxes in this case? (assuming you have enough money to buy 3 boxes and you are someone who likes to collect ceramic cups).
A. Not buy (because marginal cost > marginal benefit)
B. Will buy. (because marginal cost > marginal benefit).
C. Will buy (because marginal cost < marginal benefit).
D. I am like the answer of the friend above, it’s the same as me.
Which of the following statements is correct:
A. Specialization and trade increase the benefits for everyone.
B. Trade between two countries can benefit both countries.
C. Trade allows consumers to access a wider variety of goods and services at lower costs.
D. All of the above statements are correct.
In a market economy, who makes the decisions?
A. The government.
B. Enterprises.
C. Households.
D. Enterprises and households.
According to the 10th principle of "ten principles of economics", in the short term, what must society trade off?
A. Inflation rate and unemployment rate.
B. Economic development and environmental pollution.
C. Investment in the military and economic development.
D. None of the answers are correct.
What is the market?
A. A group of buyers and sellers of a specific good or service, where buyers: determine demand; sellers: determine supply.
B. A group of buyers and sellers of a specific good or service, where buyers: determine supply; sellers: determine demand.
C. A place where the government manages economic activities.
D. None of the answers are correct.
The law of demand states that: if all other factors remain constant, then?
A. There is a direct relationship between the quantity demanded of this good and its price.
B. There is a direct relationship between quantity demanded and income.
C. There is a direct relationship between quantity demanded and preferences.
D. There is an inverse relationship between the quantity demanded of a good and its price.
The supply curve is an upward sloping line because?
A. There is a direct relationship between the quantity supplied of goods and the price of goods.
B. There is an inverse relationship between the quantity supplied of goods and the price of goods.
C. There is a direct relationship between the quantity supplied and preferences.
D. There is a direct relationship between the quantity supplied and the level of production technology.
What factors shift the demand curve to the left or right?
A. Income & preferences of customers.
B. Price of related products.
C. Number of buyers & their expectations.
D. All of the above are correct.
Which of the following does “not” cause the supply curve to shift left or right?
A. Level of technology.
B. Price of input materials.
C. Number of sellers.
D. Income of customers.
Assuming your monthly income is 8 million VND, the demand for product X is 5 products/month. When your income increases to 15 million VND, the demand for product X is 10 products/month. What can we conclude about product X?
A. Substitute goods.
B. Complementary goods.
C. Normal goods.
D. Inferior goods.
Product Y is a secondary good, which of the following statements is correct regarding product Y.
A. When income decreases, it increases the demand for good Y.
B. When income increases, it increases the demand for good Y.
C. When income decreases, it decreases the demand for good Y.
D. I haven't studied this lesson yet, teacher.
The price of good A increases, leading to an increase in the demand for product B, so A and B are two goods that have the property of:
A. Normal
B. Secondary.
C. Substitutes.
D. Complements.
The price of good X increases, causing the demand curve for product Y to shift to the left. At this point, products X and Y have a relationship as two goods:
A. Y is a secondary good.
B. X is a normal good.
C. X and Y are two complementary goods.
D. X and Y are two substitute goods.
When the price of good X increases, but does not change the quantity demanded for product Y. Given that other factors remain constant, what is the relationship between products X and Y?
A. Substitute.
B. Independent.
C. Complementary.
D. X and Y have an ambiguous "romantic" relationship.
In March 2024, the prices of input materials for milk tea production increased by 20%. What will happen as a result?
A. The supply curve of milk tea shifts to the right.
B. The supply curve of milk tea shifts to the left.
C. Move along the supply curve.
D. The demand curve shifts to the right.
Which pair of goods below has a complementary relationship?
A. Printer and ink.
B. Motorcycle and gasoline.
C. Air conditioner and electricity.
D. All of the above are correct.
At the beginning of 2024, due to climate change, the supply of "durian" in the country has decreased, while customer demand for this product remains unchanged. How has this event affected the new equilibrium price (P1) and the new equilibrium quantity (Q1) of durian?
A. P1 increases; Q1 decreases.
B. P1 increases; Q1 increases.
C. P1 decreases; Q1 decreases.
D. P1 decreases; Q1 increases.
What are the supply and demand functions for product X?
- Supply function: P = Qs + 5.
- Demand function: P = -0.5*Qd + 20.
When the market is in equilibrium, what are the equilibrium price and quantity?
A. Q=5 and P=10.
B. Q=10 and P=15.
C. Q=8 and P=16.
D. Q=20 and P=10.
What are the supply and demand functions for product Y?
- Supply function: Qs = P - 5.
- Demand function: Qd = 40 – 2P.
At the price level P = 8, what is the market situation?
A. Shortage, because Qd > Qs.
B. Surplus, because Qd > Qs.
C. Shortage, because Qd < Qs.
D. Equilibrium, because Qd = Qs.
The actual demand function for the bubble tea market is P = -0.5*Qd +5. What is the slope coefficient a of the demand function for the bubble tea market?
A. a = -2.
B. a = -0.5.
C. a = 2.
D. a = 0.5.
When income decreases, with all other factors unchanged, what will be the new equilibrium price and quantity of normal goods?
A. Lower price and larger equilibrium quantity.
B. Higher price and smaller equilibrium quantity.
C. Lower price and smaller equilibrium quantity.
D. No change.
The elasticity coefficient of demand for air conditioning units is -2, which means:
A. Price increases by 10%; demand increases by 20%.
B. Price decreases by 20%; demand increases by 10%.
C. Price decreases by 10%; demand decreases by 20%.
D. Price increases by 10%; demand decreases by 20%.
The price of watermelon decreased by 10%, causing the demand for watermelon to increase by 20%. What is the price elasticity of demand, and is it elastic or inelastic?
A. The elasticity coefficient is -0.5; inelastic.
B. The elasticity coefficient is -2; elastic.
C. The elasticity coefficient is 0.5; inelastic.
D. The elasticity coefficient is 2; elastic.
In which case does the supply curve of Pepsi shift to the right:
A. The income of consumers decreases.
B. The price of raw materials for producing Pepsi increases.
C. The price of Coca increases.
D. None of the cases are correct.
Given the supply and demand functions for product Y:
- Supply function: Qs = P - 5.
- Demand function: Qd = 40 – 2P.
At the price level P = 16, what is the market situation?
A. Shortage, because Qd > Qs
B. Surplus, because Qs > Qd.
C. Equilibrium, because Qd=Qs.
D. I am like the answer of the person next to me.
The t-shirt market has experienced a price change. Previously, the price of a t-shirt was 100,000 VND/piece, now the price has decreased to 90,000 VND/piece. This has caused the demand for t-shirts to increase from 100 pieces to 110 pieces. What is the price elasticity of demand for t-shirts?
A. E(D) = -1.
B. E(D) = 1.
C. E(D) = 0.
D. I have not reviewed this lesson.
Which of the following markets belong to the factor market:
A. Land market.
B. Labor market.
C. Capital market.
D. All of the above are correct.
