Month: April 2018

Studying the determination of prices in individual markets is primarily a concern of ………..?

Select ONE answer:

1. Negative economics
2. Microeconomics
3. Positive economics
4. Macroeconomics

What is meant by a non-profit motive as an incentive?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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In broad terms, the difference between microeconomics and macroeconomics is that?

Select ONE answer:

1. Microeconomics studies the effects of government taxes on the national unemployment 
rate.
2. Macroeconomics studies the effects of government regulation and taxes on the price of 
individual goods and services whereas microeconomics does not.
3. They use different sets of tools and ideas.
4. Microeconomics studies decisions of individual people and firms and macroeconomics 
studies the entire national economy.

What is meant by profit as an incentive?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 4

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Microeconomics focuses on all of the following EXCEPT?

Select ONE answer:

1. The effect of increasing the money supply on inflation.
2. The purchasing decisions that an individual consumer makes.
3. The effect of an increase in the tax on cigarettes on cigarette sales.
4. The hiring decisions that a business makes.

What is meant by entrepreneurial motives?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 1

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Which of the following is a microeconomics topic?

Select ONE answer:

1. The reasons for a decline in average prices
2. The reasons why Kathy buys less coffee
3. The cause of why total employment may decrease
4. The effect of the government budget deficit on inflation

What is meant by adding value?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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Which of the following is a macroeconomic topic?

Select ONE answer:

1. Why plumbers earn more than janitors
2. The reasons for the rise in average prices
3. Whether the army should buy more tanks or more rockets
4. The reasons for a rise in the price of orange juice

What is meant by the role of the entrepreneur in the economy?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2

This work is licensed under a Creative Commons Attribution 4.0 International License.