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Video Quiz
Video Quiz

Economic Development (Overview of Economic Concepts)

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Economic Development (Overview of Economic Concepts)

Video Quiz

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About this activity

This interactive video activity provides an overview of the basic concepts of economics as preparation for the upcoming midterm presentations. Through this activity, students will review key economic concepts such as demand, supply, market equilibrium, types of market, utility, consumption, GDP, GNP, factors of production, and national income. Answer the questions throughout the video to check your understanding of the concepts that will serve as your foundation for the detailed discussions during the presentations.

Created by

Arvelle Sangoy
Arvelle Sangoy
Philippines

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Economic Development (Overview of Economic Concepts)
 

Economic Development (Overview of Economic Concepts)Online version

This interactive video activity provides an overview of the basic concepts of economics as preparation for the upcoming midterm presentations. Through this activity, students will review key economic concepts such as demand, supply, market equilibrium, types of market, utility, consumption, GDP, GNP, factors of production, and national income. Answer the questions throughout the video to check your understanding of the concepts that will serve as your foundation for the detailed discussions during the presentations.

by Arvelle Sangoy
QR
1

Demand refers to:

2

Which of the following is a condition needed for demand?

3

According to the Law of Demand, when the price of a product decreases, consumers usually:

4

According to the Law of Supply, when the price of a product increases, suppliers usually:

5

The demand curve represents the relationship between:

6

The supply curve represents the relationship between:

7

Together, demand and supply determine:

8

Market equilibrium occurs when:

9

When quantity supplied exceeds quantity demanded, this situation is called:

10

When quantity demanded exceeds quantity supplied, this situation is called:

11

According to economics, a market is:

12

A market with only one seller is called:

13

Utility refers to:

14

Consumption means:

15

The Law of Diminishing Marginal Utility states that:

16

Price refers to:

17

Value refers to:

18

GNP refers to:

19

GDP refers to:

20

Which of the following is a factor of production?

 
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