WorksheetsYear 9 Econs
Total questions: 25
Worksheet time: 14mins
What is macro economics?
The study of companies
The study of globalisation
The study of the economy as a whole
The study of a specific market
What is micro economics?
The study of different economic systems
The study of a specific market within the economy
The study of economies that do not make much profit
The study of small country economies
Which is the odd one out? (Economic questions.)
What to produce?
How to produce?
For whom to produce?
How much tariff to charge?
In a (a) economy, the government makes all the economic decisions.
What is a planned economy also known as?
Capitalism
Trumpism
Communism
Complete control
Which is NOT an advantage of a planned economy?
Wealth distributed fairly amongst a population
Services not suited to competition are provided by the government
Economic decisions may take a long time to implement
Unemployment is kept low
In a market economic system, who has sovereignty?
The king or queen
The businesses
The banks
The consumers
The ________ ____ __ ______ model shows the flow of resources, goods and income between different sectors of the economy
(a)
A leakage is...
Any flow of income from households to businesses
Any flow of income away from households that does not go directly to firms
Any flow of income from businesses to households
A flow of income towards firms not from households
What is the correct definition of savings?
Income not spent on goods and services in the economy and put away for future use.
Income borrowed by firms to spend on their businesses so that more money can be earned in the future.
Money paid by banks to households if they have a home loan with them
Money given to firms by the banks
What are savings, taxation and imports classified as?
Injections
Foreign income
Leakages
Government policy
Identify the odd one out
Investment
Government Expenditure
Exports
Imports
When there is no tendency for changes to occur in the economy, this is known as (a)
The buying, selling or exchanging of goods or services between people, businesses and countries is...
Globalisation
MNCs
Trade
Foreign exchange
Which country is Australia's top trading partner?
China
Japan
USA
India
If two nations rely on each other, we call this
Integration
Independence
Interdependence
Globalisation
What does ChAFTA stand for?
China and Friends Trade Association
China Australia Free Trade Agreement
Cheese and Fries Take Away
China Australia Friendship Trust Agreement
Which is a disadvantage of globalisation?
Cheap goods
Environmental damage
More consumer options
Less people living in poverty
Find the odd one out...
Nike
Coca Cola
Nescafe
Chisholm canteen
What does GFC refer to?
Good Food chicken
Greek Fried Chicken
Global Financial Crash
Great Financial Collapse
Which is the odd one out?
Second hand car
Gold
Term deposit
Property
What is meant by diversification?
Studying lots of subjects at school
Investing money in lots of different options to lower risk
When you divide numbers in maths
It is a geographical concept related to globalisation
How do you earn money on property?
By extending the house
Rent
Covering it in gold
Paying people to live in it
Is the purchase of a car good or bad debt?
Good Debt
Bad Debt
Are university fees good or bad debt?
Good Debt
Bad debt
