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Economics and Its Problems

Authored by az aleesa

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Economics and Its Problems
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15 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of economics?

The study of how households and firms make decisions and how they interact in markets

The study of economy-wide phenomena, including inflation, unemployment, and economic growth

The science that studies how to allocate limited resources to meet the needs of unlimited human wants

The study of how to maximize profit in a business

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the factors of production?

Natural resources, human resources, and tools to increase production

Goods and services produced by firms

Income earned by households

Money and financial resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Production Possibility Frontier (PPF) represent?

The ability to produce goods and services using limited resources

The choices made by households and firms in the market

The opportunity cost of producing one good over another

The distribution of income and wealth in an economy

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the circular flow diagram in the economy?

A visual model of how monetary value flows through markets among households and firms

A diagram showing the distribution of income and wealth in an economy

A representation of the choices made by households and firms in the market

A model of how resources are allocated to meet unlimited human wants

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of innovation and technology in the current economic conditions?

To maximize profit in businesses

To increase the distribution of income and wealth

To meet the various needs of human beings through digital interactions and transactions

To minimize the opportunity cost of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the economic problems faced in Indonesia?

High inflation decreasing purchasing power

Low economic growth

High unemployment rate

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of microeconomics?

Inflation, unemployment, and economic growth

How households and firms make decisions and interact in markets

The allocation of limited resources to meet unlimited human wants

The study of aggregate economic phenomena

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