ECONOMICS QUIZ
Authored by SWARAN MEENA
Other
University
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6 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_________ is the total value of all final goods and services produced by the country in certain year.
National Income
Personal income
Corporate income
Foreign income
2.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
The main conditions for Scarcity are________ and _________
(a)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Scarcity occurs when everyone has enough resources to meet their needs and wants.
True
False
Sometimes true
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assumption used in PPC
Production Efficiency
Economic Efficiency
Allocative Efficiency
Fixed capital
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The compulsory thing in a society
Wants
Scarcity
Needs
Resources
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which law says that as the price of a good goes down, consumers are more willing to buy?
Law of Supply
Law of Demand
Factor of Production
Scarcity
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