Economic Concepts and Agents Assessment

The video explains how an economy functions by detailing the roles of firms, government, and households. It describes how firms operate in a capitalist economy, focusing on capital, production, and profit. The government's role in law enforcement, taxation, and public services is highlighted. The household sector's impact on consumption and savings is discussed, along with the importance of external trade. The video concludes by linking these elements to macroeconomics.

Which of the following is NOT considered a major economic agent in a country's economy?

• Government

• Non-profit organizations

• Households

• Firms

In a capitalist economy, who primarily controls production activities?

• Non-profit organizations

• The government

• Capitalist enterprises

• International bodies

What is the term used for the money required to run a firm?

• Wages

• Profit

• Capital

• Revenue

Which of the following is NOT a factor of production?

• Marketing

• Capital

• Labor

• Natural resources

What is the term for the money earned by selling products in the market?

• Profit

• Investment

• Capital

• Revenue

What is the term for the remaining revenue after all expenses are paid?

• Revenue

• Capital

• Wages

• Profit

Which of the following is NOT a role of the government in the economy?

• Building public infrastructure

• Running private businesses

• Providing health services

• Framing laws

Households earn money through various means. Which of the following is NOT one of them?

• Subsidies

• Profits

• Wages

• Salaries

What is the term for the economic activity involving export and import of goods?

• Local trade

• Internal trade

• External trade

• Domestic trade

Which sector is involved in foreign investment and capital flow?

• External sector

• Firms sector

• Household sector

• Government sector