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WorksheetsGrade 9-Economics
Total questions: 13
Worksheet time: 27mins
Why do we study economics? Have you gained anything from this unit? Discuss them.
Define economics from the perspective of wealth, welfare, and scarcity. Which definition better suits economics? Why?
"Study and knowledge of economics are extremely useful and important." Explain.
Explain the distinction between microeconomics and macroeconomics.
What do you understand by "positive economics" and "normative economics"?
Explain why economics deals with the allocation and efficient utilisation of scarce resources only.
In recent years, especially around big cities, there is the problem of air pollution and the likelihood of poisoning is high. Given this scenario, do you think that air is a free resource? Justify your answer.
Explain the main features of the various decision-making units of an economy.
General government gets its income mainly from taxes levied on
households and business firms in the form of direct and indirect taxes
goods and services it provides to the producers
factor services it provides to households.
none of the above
Households spend an enormous portion of their income in purchasing goods and services from the
producers
government
other consumers
none of the above
Which of the following is the basic decision making unit of an economy?
Households
Government
Business firms
All of the above
Which of the following is a normative statement?
Not all resources experience price rises.
Poverty is something society should reduce.
An increase in house prices is likely to cause a reduction in demand
Some of the earth's scarce resources are non-renewable.
Which of the following statements would best describe firms?
They are the main buyers of factors of production
They are the leading producers of commodities.
They consist of both private and government enterprises.
All of the above
E A&B
