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preparation mid sem 1 grade 10

Total questions: 22

Worksheet time: 16mins

Name
Class
Date
1.

The branch of economics that examines the relationship between the general price level and national output is called…

a)

microeconomics

b)

development economics

c)

macroeconomics

d)

applied economics

e)

management

2.

  1. In applied economics, the field that is NOT included is…

a)

  1. Health economics

b)

  1. Industrial economics

c)

  1. Natural resource economics

d)

  1. Islamic (sharia) economics

e)

  1. Financial economics

3.

  1. Which of the following is an example of a normative economic study?

a)

  1. Analyzing the impact of a new tax on consumer spending

b)

  1. Studying how interest-rate hikes affect business investment

c)

  1. Recommending a minimum-wage increase to reduce poverty

d)

  1. Measuring price elasticity for luxury goods

e)

  1. Examining supply and demand for cooking oil

4.

  1. The statement that falls within the scope of macroeconomics is…

a)

  1. How a household allocates its monthly budget

b)

  1. A firm’s decision on its production costs

c)

  1. The national inflation rate and GDP growth

d)

  1. A producer’s choice of selling price

e)

  1. Inventory management of raw materials

5.

  1. Which sentence reflects a positive economic approach?

a)

  1. “The government should lower rice import tariffs.”

b)

  1. “Fiscal policy ought to prioritize electricity subsidies.”

c)

  1. “Inflation in Q2 2025 reached 3.7%.”

d)

  1. “Minimum wages must cover a living wage.”

e)

  1. “Tourism must receive preferential loans.”

6.

  1. The branch that uses economic theory to devise practical solutions is called…

a)

  1. Normative economics

b)

  1. Descriptive economics

c)

  1. Applied economics

d)

  1. Positive economics

e)

  1. Economic theory

7.

  1. Objects of microeconomic analysis include…

a)

  1. Total government spending

b)

  1. Exchange-rate movements

c)

  1. Producer decisions on cost and output

d)

  1. National unemployment statistics

e)

  1. Aggregate trade balances

8.

  1. A person’s ability to take risks and organize a business is classified as which factor of production?

a)

  1. Labor

b)

capital

c)

  1. Entrepreneurship

d)

  1. Natural resources

e)

  1. Technology

9.

  1. Labor can be classified by quality into…

a)

  1. Untrained and trained

b)

  1. Physical and mental

c)

  1. Skilled and unskilled

d)

  1. Educated and untrained

e)

  1. Raw and refined

10.

  1. The factor of production classified by education level is…

a)

  1. Educated labor

b)

  1. Physical labor

c)

  1. Spiritual labor

d)

  1. Unskilled labor

e)

  1. Multicultural labor

11.

  1. From the list below, the primary (original) factors of production are…

a)

  1. Factories, machines, and raw materials

b)

  1. Sunlight, natural pools, and labor

c)

  1. Cash capital, credit lines, and investments

d)

  1. Intellectual property rights

e)

  1. Corporate management systems

12.

  1. The main objectives of production for a firm generally include…

a)

  1. Distributing wealth to the community

b)

  1. Sustaining the business and maximizing profit

c)

  1. Lowering the cost of goods sold

d)

  1. Conserving natural resources only

e)

  1. Driving up aggregate demand

13.

  1. Production can be defined as…

a)

  1. The process of distributing goods

b)

  1. The ratio of inputs to outputs

c)

  1. The process of creating goods or services with utility

d)

  1. Total revenue minus total cost

e)

  1. Government expenditure on projects

14.

  1. Labor productivity is measured by…

a)

  1. Total cost per unit of output

b)

  1. The ratio of output to input

c)

  1. The difference between variable and fixed costs

d)

  1. The change in total cost

e)

  1. The number of items stored

15.

  1. Total Cost (TC) consists of…

a)

  1. Fixed Cost + Marginal Cost

b)

  1. Variable Cost + Marginal Cost

c)

  1. Fixed Cost + Variable Cost

d)

  1. Average Cost × Output

e)

  1. Labor cost + Material cost

16.

  1. Average Cost (AC) is calculated by…

a)

  1. Total Cost – Fixed Cost

b)

  1. Total Cost ÷ Output

c)

  1. Marginal Cost ÷ Output

d)

  1. Fixed Cost + Variable Cost

e)

  1. Total Cost × Output

17.

  1. Marginal Cost (MC) is…

a)

  1. Total revenue minus total cost

b)

  1. The change in total cost from producing one more unit

c)

  1. The average cost per unit

d)

  1. Fixed cost plus variable cost

e)

  1. The ratio of output to cost

18.

  1. If a factory produces 200 units in 8 labor hours, its labor productivity is…

a)

  1. 20 units/hour

b)

  1. 22 units/hour

c)

  1. 24 units/hour

d)

  1. 25 units/hour

e)

  1. 30 units/hour

19.

If TC = 150 + 25Q + 3Q², then MC equals…

a)

  1. 25 + 3Q

b)

  1. 25 + 6Q

c)

  1. 150 + 3Q

d)

  1. 25Q + 6Q

e)

  1. 150 + 6Q

20.

  1. What is the main difference between positive economics and normative economics?

4 lines
21.

  1. List and explain the factors that drive production activities.

4 lines
22.

  1. Define production and give one real-world example.

4 lines

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