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Froggy Jumps
Froggy Jumps

Economics Review Quiz: MCQ

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Economics Review Quiz: MCQ

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Economics basics quiz

Created by

Sukanya Mcleish
Sukanya Mcleish
Jamaica

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Economics Review Quiz: MCQ
 

Froggy Jumps

Economics Review Quiz: MCQOnline version

Economics basics quiz

by Sukanya Mcleish
1

Which law describes how price and quantity demanded move inversely?

2

A rightward shift of the demand curve indicates:

3

What causes a movement along the demand curve?

4

Which factor would shift the supply curve to the left?

5

What does the Production Possibility Frontier illustrate?

6

On the PPF, points inside the curve indicate:

7

If an economy is on the PPF, producing more of one good requires:

8

Which statement best describes scarcity in economics?

9

Nature of economics is best summarized as:

10

A movement along the supply curve is caused by:

11

The relationship between price and Quantity supplied is best described as:

12

What is a sole trader?

13

What defines a partnership in business?

14

What characterizes a private limited company (Ltd)?

15

What distinguishes a public limited company ( plc )?

16

What is the primary focus of the primary sector?

17

What does the secondary sector involve?

18

What activities belong to the tertiary sector?

19

Which business form typically has the easiest setup and full control?

20

Which is a key advantage of a private limited company?

21

Which advantage is common to public limited companies?

 
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