Basic Economic Problems

All of these are economic problems except

(a)How to provide employment opportunities (b)How to curb drug addiction (c)How to provide food for homeless kids (d)What technique should be applied in creating plastic from cassava

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The problem of what to produce is basically because of _____

(a)Population (b)Indecision (c)Scarcity (d)Poverty

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A production method with more proportionate machinery to labour is said to be _____

(a)Labour Intensive (b)Capital intensive (c)Mechanised (d)Automated

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Economically, If a society decides to increase the production of some good then it has to _______

(a)Use more resources _____ (b)It has to sell more (c)Then it is important (d) it has to withdraw some resources from the production of other goods

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The idea of sacrificing one production the expense of another is what ______ is all about

(a)Scarcity (b)Choice (c)Opportunity cost (d)Human want

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Economically, more production of a desired commodity can be made possible only by_______

(a)reducing the quantity of resources used in the production of other goods. (b)Getting more money (c)Charging higher prices for it (d)Charging lower prices for it

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Goods that are used in the production of further goods are called ______

(a)Capital goods (b)Resources goods (c)Consumer goods (d)Asset goods

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Goods which gives direct satisfaction without necessarily creating further production is regarded as

(a)Capital goods (b)Direct goods (c)Consumer goods (d)Fast foods

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Production in sum total is the creation of _______-

(a)goods (b)Services (c)Utility (d)Scarcity

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All of these option describes capital goods except

(a)A baker bought a Baker for her shop (b)Harron's father bought him a PS for his birthday (c)Tamilore bought her Tesla electronic car for Uber (d)Jameela bought dried fish cafeteria

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All of these are factors that determines what to produce except

(a)What consumers need (b)Cost of production (c)Available resources (d)Social problems

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The concern about the output level of a planned input is a problem of

(a)What to produce (b)How to produce (c)For whom to produce (d)The efficiency of the resources used

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You'll have 60 seconds to answer each question.

Time's Up

Score:

Your fingernails and hair keep growing after you die

Result

Total Questions: 9

Attempt: 8

Correct : 3

Wrong: 5

Percentage: 33%