Mock Test – BOP

Mock Test – BOP

Professional Development

32 Qs

quiz-placeholder

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Mock Test – BOP

Mock Test – BOP

Assessment

Quiz

Business

Professional Development

Medium

Created by

Varuni Kaushal

Used 3+ times

FREE Resource

32 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In which type of economy do prices change based on supply and demand?

Government economy

Free market economy

Mixed economy

Planned economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who decides what goods are made in a planned economy?

Business owners

The government

Consumers

Shopkeepers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do people have to make choices when buying things?

Because prices are too high

Because they don’t like shopping

Because there are limited resources and unlimited wants

Because shops are far away

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main goal of businesses in a free market?

Helping others

Making profit

Making laws

Protecting nature

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the PPF (Production Possibility Frontier) show?

What a factory looks like

The best way to use resources to make two goods

Prices in the market

Jobs available in a city

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is not a factor of production?

Land

Labour

Capital

Money

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is scarcity a problem in economics?

Because people save too much

Because the resources are limited and wants are unlimited

Because People love money

Because people want all good things

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