Business And Economy

10 Questions

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Economy Quizzes & Trivia

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Questions and Answers
  • 1. 
    In a Open Economy everyone in the state is free to open a business
    • A. 

      True

    • B. 

      False

  • 2. 
    Their are four types of economies (open economy,mixed,controlled economy and government only economy)
    • A. 

      True

    • B. 

      False

  • 3. 
    Subsidies is a payment of money by a firm to the government.
    • A. 

      True

    • B. 

      False

  • 4. 
    A grant is a non-repayable amount of money received by a ___________ from the government
  • 5. 
    Economic Growth is measured in what?
    • A. 

      GBP

    • B. 

      GPP

    • C. 

      GNP

    • D. 

      GDP

  • 6. 
    Name the four factors of production ?
    • A. 

      Land,Labour,Machines,Enterprise

    • B. 

      Machines,Labour,Invention,Science

    • C. 

      Land,Labour,Capital,Enterprise

    • D. 

      Labour,Plot,Capital,Skill

  • 7. 
    Inflation is a mainly bad thing for the economy? 
    • A. 

      True

    • B. 

      False

  • 8. 
    Economic Growth is the increase in the _________ of the goods and services provide by the economy over time. 
  • 9. 
    The  workforce is ?
    • A. 

      Every person who is 16 years of age and older, who are either employed or unemployed

    • B. 

      Every person who is 16 years of age and older, who are either employed up until retire age

    • C. 

      Every person who is 16 years of age and older, who are either employed up until retire age

    • D. 

      Every person who is 16 years of age and older, who are either unemployed up until retire age