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Q 1/50
Score 0
The study how human allocates his scarce resources to fulfill his needs and wants.
50
Technology
Economics
Social Science
Ecology
Q 2/50
Score 0
It is the division of economics that is concerned with the overall performance of the entire economy.
50
Scarcity
Macroeconomics
Microeconomics
Economics
50 questions
Q.
The study how human allocates his scarce resources to fulfill his needs and wants.
1
50 sec
Q.
It is the division of economics that is concerned with the overall performance of the entire economy.
2
50 sec
Q.
It is the action one has done for someone else.
3
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Q.
It means management of household.
4
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Q.
It refers to the quantities the consumers are willing and able to buy at a given price.
5
50 sec
Q.
The quantity of goods that a seller is willing to offer for sale.
6
50 sec
Q.
This happens when there is a state of balance when the demand is equal to supply.
7
50 sec
Q.
What is the financial gain made in transactions?
8
50 sec
Q.
What is an economic or productive factor required to accomplish an activity?
9
50 sec
Q.
What is it called when you have limited quantities of resources used to meet unlimited wants?
10
50 sec
Q.
What is an economic system that relies on habit, custom, or ritual to decide questions of production and consumption of goods and services?
11
50 sec
Q.
What is the financial compensation in exchange for labor?
12
50 sec
Q.
What is the point at which the quantity demanded and the quantity supplied are equal called?
13
50 sec
Q.
What are the products that are brought and used together?
14
50 sec
Q.
What is the study of economic behavior and decision makings of small units, such as individuals, families, and businesses called?
15
50 sec
Q.
What is the process of producing or creating goods?
16
50 sec
Q.
What do you call the field that applies economic theories and principles to real-world situations with the desired of predicting potential outcomes?
17
50 sec
Q.
What is the state of not earning or not working?
18
50 sec
Q.
What is the study of society and how people behave and influence the world around them?
19
50 sec
Q.
It is a microeconomic law that states that all other factors being equal, as the price of a good or service increases, the need for the good will decrease.
20
50 sec
Q.
Which of the following are the person or business that buy or use goods and services?
21
50 sec
Q.
It is described as an increase in the overall level of prices in the economy.
22
50 sec
Q.
Which of the following are the person or business that make goods and provide services?
23
50 sec
Q.
The following are factors of production except?
24
50 sec
Q.
When the price increases, the suppliers tend to
25
50 sec
Q.
When the price of a good increases, the quantity demanded of the good is likely to
26
50 sec
Q.
A decrease in supply shifts the supply curve
27
50 sec
Q.
When the demand for a product decreases due to changing of consumer preferences, the demand curve
28
50 sec
Q.
Which of the following best describes a demand curve?
29
50 sec
Q.
Which of the following best describes a supply curve?
30
50 sec
Q.
Lower prices typically
31
50 sec
Q.
What is the process of marketing goods to different economic outlet?
32
50 sec
Q.
These are examples of human wants except
33
50 sec
Q.
When the production costs go up
34
50 sec
Q.
The degree of change in demand or supply due to the change in its determinants.
35
50 sec
Q.
The main determinants of supply and demand
36
50 sec
Q.
The elasticity coefficient of 0.7 means
37
50 sec
Q.
If the computed price elasticity is more than 1. What does it mean?
38
50 sec
Q.
The elasticity is said to be _______ if the coefficient is 1.
39
50 sec
Q.
When there is a greater change in the demand for banana because of the change in price of avocado. The demand for banana is said to be:
40
50 sec
Q.
Shortage may cause price to _____________.
41
50 sec
Q.
It is the application of statistical and mathematical theories to economics
for the purpose of testing hypotheses and forecasting future trends.
42
50 sec
Q.
The gap between the limited resources and theoretically limitless wants
43
50 sec
Q.
Someone who currently has a job
44
50 sec
Q.
Someone who doesn’t have a job right now but is not actively looking for a job.
45
50 sec
Q.
The elasticity coefficient of 0 means
46
50 sec
Q.
It means that a small change in price may cause a huge change in demand.
47
50 sec
Q.
If the demand for Vitamin C increases, what will happen to its price?
48
50 sec
Q.
It describes the amount of an asset or resource that exceeds the portion that's actively utilized.
49
50 sec
Q.
It occurs when the quantity demanded exceeds the quantity supplied.
