economics

economics

10th Grade

66 Qs

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economics

economics

Assessment

Quiz

Business

10th Grade

Medium

Created by

Tr. Khine Zar Thwe

Used 1+ times

FREE Resource

66 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Of the four factors of production, which of these are not a factor of production?

Land

Capital

Development

Labour

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which event would cause an increase in demand for train tickets?

A decrease in population

An decrease in the price of bicycles

An decrease in disposable income

More advertising by the rail companies

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a complement ?

Being nice to someone

A good that is used in place of something

A luxury good

A good that is demanded together

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by contraction in Demand?

A reduction in demand due to a rise in the price of the product

A reduction in demand due to a fall in the income of the population

A rise in demand due to a rise in the price of a substitute product

A rise in demand due to a fall in the price of a complement

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does an economist mean by capital?

the coordination of the factors of production

natural resources that will not be replaced

using workers to work in firms

Machines, tools and factories

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What is scarcity?

When there is not enough of something.

what you give up in order to get what you want most.

the amount of a good or service that is available.

How much people want the good or service.

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

The want or willingness a consumer has to purchase a good or a service is called?

shortage
supply
price
demand

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