
Economics Quiz

Quiz
•
Others
•
12th Grade
•
Medium
Lovely Bajaj
Used 1+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe physical, tangible objects used to satisfy people's wants and needs?
Allocation
Resources
Services
Goods
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe those goods and services which are used to produce other goods and services?
Goods
Services
Resources
Allocation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe the intangible satisfaction of wants and needs?
Goods
Services
Allocation
Resources
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe an individual decision-making unit?
Firm
Organisation
Individual
Household
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe how much of which resource is devoted to the production of each of the goods and services?
Goods
Services
Resources
Allocation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In a market economy, economic activities are organised through which institution?
Market
Firm
Government
Household
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of economy has the government or central authority planning all important activities?
Centrally Planned Economy
Free Economy
Market Economy
Mixed Economy
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