9708/11/o/n/22

9708/11/o/n/22

11th Grade

30 Qs

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9708/11/o/n/22

9708/11/o/n/22

Assessment

Quiz

Other

11th Grade

Practice Problem

Medium

Created by

Minh Tran Hanh [Miley]

Used 14+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An economy is changing from a planned economy to a market economy.

Which action would be expected during this change?

the replacement of fiscal policy by monetary policy

the replacement of multinational companies by national companies

the replacement of nationalisation by privatisation

the replacement of private property rights by common ownership

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A local council provides a tap for drinking water in a town.

Would this make drinking water a free good?

No, because it is possible to exclude some people from using the tap

No, because it requires the use of scarce resources.

Yes, because it is available to all passers-by.

Yes, because it is impossible to charge for it.

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Food prices in a country increased by 20% in three months due to an infectious virus.

Which statement about the cause of this rise in food prices is normative?

Consumers were scared of running out of food.

Farm workers demanded higher wages to cover extra hours worked

Supply of foreign food was reduced because of closed borders.

Transport costs increased by 10%.

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

A doctor has very long working hours and a high level of stress. She can become a teacher instead of continuing as a doctor.

What is the opportunity cost of choosing to continue as a doctor?

the risk of mistakes caused by tiredness

the possible costs of illness caused by high stress levels

the potential salary as a teacher

the retraining costs of becoming a teacher

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When will the demand curve for motorcycles shift to the left?

when the price of cars falls

when the price of motorcycles falls

when the tax on motorcycles rises

when the price of public transport rises

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Media Image

The diagram shows the demand curve for housing.

What is not assumed to remain constant when drawing this curve?

consumer incomes

expectations about future house prices

the price of houses

the rate of interest charged on loans for house purchase

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which statement defines the price elasticity of supply?

It is a measure of how the price of a good responds to a change in the quantity supplied.

It is a measure of how the quantity supplied of a good responds to a change in its price.

It is a measure of how the supply of a good responds to a change in its cost of production.

It is a measure of how the supply of good X responds to a change in the price of good Y.

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