Content Frame
Note for screen reader users: There is text between the form elements on this page. To be sure that you do not miss any text, use item by item navigation methods, rather than tabbing from form element to form element.
Skip Breadcrumb Navigation
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.

If your lecturer has requested that you send your results to them, please complete the Routing Information found at the bottom of your graded page and click on the 'E-Mail Results' button. Please do not forward your results unless your lecturer has specifically requested that you do so.

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

Pearson Education Copyright © 1995-2006 Pearson Education. All rights reserved.
Legal and Privacy Notice

Return to the Top of this Page