IB CHAPTER 1

IB CHAPTER 1

Professional Development

35 Qs

quiz-placeholder

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IB CHAPTER 1

IB CHAPTER 1

Assessment

Quiz

Business

Professional Development

Practice Problem

Easy

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35 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What is the primary focus of economics?

The study of money and banking
The study of how resources are allocated to satisfy unlimited needs and wants
The study of political systems
The study of historical trade routes

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is NOT a level of economic analysis?

Microeconomics
Macroeconomics
The global economy
Socioeconomics

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What does microeconomics examine?

The economy as a whole
The behaviour of individuals and firms in specific markets
International trade policies
Government fiscal policies

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which real-world issue relates to how consumers and producers make choices?

RWI 1
RWI 2
RWI 3
RWI 4

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of the following is NOT one of the nine central concepts in IB Economics?

Scarcity
Efficiency
Inflation
Sustainability

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

What does the concept of 'interdependence' refer to?

The reliance on others to achieve economic goals
The limited availability of resources
The fairness in income distribution
The stability of prices over time

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which concept is about perceived fairness?

Efficiency
Equity
Sustainability
Change

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