Economics Quiz

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1. Which one of the following is a need?
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About This Quiz
Economics Quizzes & Trivia

A quiz on Economics, Foreign Trade and Currencies for Junior Certificate Business Studies. This quiz is a revision of Chapters 18, 19 & 20 from your textbook.

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2. Dollar is the currency of India?

Explanation

The currency of India is the rupee.

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3. There are different types of economic systems. What type of economic system do we have in Ireland?
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4. The increase in the production of goods and services from one year to the next is known as..?
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5. €1 = YEN125 You have YEN450 left over from a school tour. How much in Euro will you get for your YEN?

Explanation

450 / 125 = 3.60

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6. Profit is one of the factors of production.
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7. Which one of the following factors of production would machinery belong to?
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8. If something cost €200 last year and is now priced at €210, what is the rate of inflation?

Explanation

The price has increased by €10.

€10/€200 x 100 = 5%

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9. What is used to measure the inflation rate in Ireland?

Explanation

Consumer Price Index

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10. €1 = $1.32 You have €500. How much will you get in dollars from the Bureau de Change in your bank?

Explanation

500 x 1.32 = $660

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11. GDP stands for "General Domestic Product".

Explanation

GDP stands for Gross Domestic Product.

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12. IMF stands for..?
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13. Seán had €15 to spend. He could have purchased a DVD or a football shirt. He decided to buy the DVD. What is the financial cost of his decision?
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14. The current National Budget is which one of the following?
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15. Visible imports = €40bn            Visible exports = €100bn Invisible imports = €60bn         Invisible exports = €130bn Calculate the Balance of Payments?
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16. The Balance of Trade only records the imports and exports of services.

Explanation

The Balance of Trade only records the imports and exports of goods.

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17. The European Central Bank is based in Luxembourg.

Explanation

It's based in Frankfurt.

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18. Debt Servicing is an example of capital expenditure by the government.

Explanation

Debt Servicing is where the government is paying interest on the National Debt each year. This is an example of current expenditure.

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19. Which one of the following companies was privatised by the government?
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20. Which one of the following countries is not a member of the Euro?
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Which one of the following is a need?
Dollar is the currency of India?
There are different types of economic systems. What type of economic...
The increase in the production of goods and services from one year to...
€1 = YEN125 ...
Profit is one of the factors of production.
Which one of the following factors of production would machinery...
If something cost €200 last year and is now priced at €210, what...
What is used to measure the inflation rate in Ireland?
€1 = $1.32 ...
GDP stands for "General Domestic Product".
IMF stands for..?
Seán had €15 to spend. He could have purchased a DVD or a...
The current National Budget is which one of the following?
Visible imports =...
The Balance of Trade only records the imports and exports of services.
The European Central Bank is based in Luxembourg.
Debt Servicing is an example of capital expenditure by the government.
Which one of the following companies was privatised by the government?
Which one of the following countries is not a member of the Euro?
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