TAPI Quiz 1

Which of the following statement are FALSE about the concepts of economy and economic system?  

• Macroeconomics and microeconomics are two different areas that unrelated in any ways.

• Economic system is a set of mechanism which deals with the production, distribution and consumption of goods and services in society.

• Economic is the study of how people choose to satisfied the unlimited needs and wants with limited resources.

Islamic economic has its own characteristic, EXCEPT

• Encourage people to do their business with ethical conduct.

• Help mankind to achieve wealthy life via fair and quick method.

• Balance the interests of individuals and society.

The main characteristic of capitalist system is    

• Equilibrium of economy

• Regimentation

• Laissez-faire

The following concepts are related with Islamic economy, EXCEPT

• Human as khalifah in managing resources with responsibility and accountability.

• Managing limited resources efficiently in order to maximize the profitability only.

• Vision of Al-Falah in the world and hereafter.

Which of the following are the problems in capitalist economic system? 

• Each individual employed.

• The gap between the poor and the rich keep increasing.

• Individual doesn’t have freedom to choose.

T run a coffee shop in Taiping. The concept of his business is book café. Among the factors of production below, which one categorized as capital?

• Coffee beans, grinder machine, books.

• Syrup flavor, milk stocks, coffee powder.

• Book shelves, kitchen appliances, coffee machine.

Which of the following are NOT the role of government in mixed economic system?

• Own all resources.

• Set the policies, rules and regulation.

• Enforcement to make sure compliance to the regulations.

There are three (3) sectors in Islamic economic system, which are siasi (public sector), tijari (private sector) and ijtima’i (social welfare sector). Which one below from the public sector?

• Non-Governmental Organization (NGO)

• Government-Link Company (GLC)

• Holding company.