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Home  arrow Student Resources  arrow Chapter 1: Introducing Economics  arrow Multiple choice questions

Multiple choice questions

Try the multiple choice questions below to test your knowledge of this chapter. Once you have completed the test, click on 'Submit Answers for Grading' to get your results.

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This activity contains 20 questions.

Question 1.
In economics the central problem is:

 
End of Question 1


Question 2.
Indicate below what is NOT a factor of production.

 
End of Question 2


Question 3.
Macroeconomics deals with:

 
End of Question 3


Question 4.
Microeconomics is not concerned with the behaviour of:

 
End of Question 4


Question 5.
The study of inflation is part of :

 
End of Question 5


Question 6.
Aggregate supply is the total amount:

 
End of Question 6


Question 7.
The total demand for goods and services in an economy is known as:

 
End of Question 7


Question 8.
Inflation is:

 
End of Question 8


Question 9.
A recession is:

 
End of Question 9


Question 10.
Unemployment means that:

 
End of Question 10


Question 11.
If marginal benefit is greater than marginal cost, a rational choice involves:

 
End of Question 11


Question 12.
A student chooses to study because the marginal benefit is greater than the ________ cost.

 
End of Question 12


Question 13.
The concept of opportunity cost:

 
End of Question 13


Question 14.
Opportunity cost is

 
End of Question 14


Question 15.
A graph showing all the combinations of goods and services that can be produced if all of society's resources are used efficiently is a:

 
End of Question 15


Question 16.
Periods of less than full employment correspond to:

 
End of Question 16


Question 17.
The circular flow of goods and incomes shows the relationship between:

 
End of Question 17


Question 18.
In a free market system, the amount of goods and services that any one household gets depends upon its:

 
End of Question 18


Question 19.
In a planned or command economy, all the economic decisions are taken by the:

 
End of Question 19


Question 20.
Which one of the following is a normative statement?

 
End of Question 20





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