preparation mid sem 1 grade 10

The branch of economics that examines the relationship between the general price level and national output is called…

• microeconomics

• development economics

• macroeconomics

• applied economics

• management

1. In applied economics, the field that is NOT included is…

• 1. Health economics

• 1. Industrial economics

• 1. Natural resource economics

• 1. Islamic (sharia) economics

• 1. Financial economics

1. Which of the following is an example of a normative economic study?

• 1. Analyzing the impact of a new tax on consumer spending

• 1. Studying how interest-rate hikes affect business investment

• 1. Recommending a minimum-wage increase to reduce poverty

• 1. Measuring price elasticity for luxury goods

• 1. Examining supply and demand for cooking oil

1. The statement that falls within the scope of macroeconomics is…

• 1. How a household allocates its monthly budget

• 1. A firm’s decision on its production costs

• 1. The national inflation rate and GDP growth

• 1. A producer’s choice of selling price

• 1. Inventory management of raw materials

1. Which sentence reflects a positive economic approach?

• 1. “The government should lower rice import tariffs.”

• 1. “Fiscal policy ought to prioritize electricity subsidies.”

• 1. “Inflation in Q2 2025 reached 3.7%.”

• 1. “Minimum wages must cover a living wage.”

• 1. “Tourism must receive preferential loans.”

1. The branch that uses economic theory to devise practical solutions is called…

• 1. Normative economics

• 1. Descriptive economics

• 1. Applied economics

• 1. Positive economics

• 1. Economic theory

1. Objects of microeconomic analysis include…

• 1. Total government spending

• 1. Exchange-rate movements

• 1. Producer decisions on cost and output

• 1. National unemployment statistics

• 1. Aggregate trade balances

1. A person’s ability to take risks and organize a business is classified as which factor of production?

• 1. Labor

• capital

• 1. Entrepreneurship

• 1. Natural resources

• 1. Technology

1. Labor can be classified by quality into…

• 1. Untrained and trained

• 1. Physical and mental

• 1. Skilled and unskilled

• 1. Educated and untrained

• 1. Raw and refined

1. The factor of production classified by education level is…

• 1. Educated labor

• 1. Physical labor

• 1. Spiritual labor

• 1. Unskilled labor

• 1. Multicultural labor