Economics is the study of ...
(choose best answer)
Intro to Economics
Quiz
•
Education
•
University
•
Medium
Emily Blott
Used 5+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Economics is the study of ...
(choose best answer)
People allocating limited resources to satisfy unlimited wants
People controlling money
Government deciding what to produce
Consumers deciding what to buy
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The limited nature of resources is known as ...
Allocation
Scarcity
Government assets
Basic economic questions
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Microeconomics involves...
Only households selling goods
The broader economy
Individuals, households and businesses
Inflation, growth, employment, interest
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Macroeconomics involves...
Business and households
Individual units
Policies of RBA
The broader economy - growth, inflation, unemployment
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
All choices entail an opportunity cost. True or False?
True
False
6.
MULTIPLE SELECT QUESTION
45 sec • 5 pts
What does the hockey stick show?
(best answer)
The fourth industrial revolution
The increase in hockey players in 1800s
A sudden, rapid growth after a long period of linear growth due to capitalism
Economic downturn
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The money households spend to purchase goods and services is...
Input
Expenditures
Income
Output
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