WorksheetsEconomic Concepts Quiz
Total questions: 15
Worksheet time: 8mins
What does GNI (Gross National Income) measure?
Spending inside South Africa
Income earned by foreigners in South Africa
Income earned by South Africans, no matter where they are
Government spending on goods and services
What does GDE (Gross Domestic Expenditure) show?
All money sent out of South Africa
Total savings by South African citizens
All spending inside South Africa
Government tax revenue
What does 'full employment' mean?
Every citizen is employed
Everyone who wants a job has one
No one is unemployed
Only government employees are working
Why is full employment hard to reach?
The population is too small
Everyone prefers self-employment
There is always some level of unemployment
Wages are too high
What does purchasing power refer to?
How much money people save
How much money the government spends
How much we can buy with our money
How much businesses earn
What does the Consumer Price Index (CPI) track?
Salaries of government officials
Price changes of everyday items over time
Exchange rates
Interest rates
If the CPI increases, what is happening?
Prices are falling
Prices are rising
Employment is rising
The currency is strengthening
What is inflation?
When prices rise
When prices fall
When money loses all value
When people earn more money
What is deflation?
When prices rise quickly
When money is printed
When prices are falling
When employment decreases
What does the Balance of Payments (BoP) measure?
How much tax is collected
The flow of money between South Africa and other countries
The amount of money people borrow
Local investments in businesses
Why is the Balance of Payments important?
It helps track population growth
It shows changes in weather patterns
It helps us see if the country is spending more than it earns
It tracks the price of gold
What can the Balance of Payments affect?
The unemployment rate
The inflation rate
The exchange rate
The literacy rate
What does the Lorenz Curve show?
Price trends
Government spending
How income is shared in a country
Import and export levels
What does the Gini Coefficient measure?
Total national income
Employment rates
Income equality or inequality
Average wage levels
What is the quantile ratio used for?
Comparing spending across industries
Measuring government spending
Comparing rich and poor income levels
Tracking inflation
