Economy Quiz

Economy Quiz

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Question 1 of 10

1. Question
1. Fill in the blanks:
- are things that people need to live and are things that people would like to have.
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Question 2 of 10

2. Question
2. Which of the following are goods and which are services? Fill in the blanks with Goods or Services.
- Computer =
  
  Haircut =
  
  Education =
  
  Food =
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Question 3 of 10

3. Question
Select the correct option below. When individuals are born into a poverty cycle, it can be described as:
- Situational poverty
- Rural poverty
- Generational poverty
- Relative poverty
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Question 4 of 10

4. Question
4. True or false. The improvement of technology can lead to efficient sustainable production process.
- True
- False
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Question 5 of 10

5. Question
5. Which of the following is the best explanation of standard of living?
- A measure of the total wealth of a country
- A measure of the total health of a country
- The measure of the net worth of a country
- The measure of the quality of life in a country
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Question 6 of 10

6. Question
6. What are the four key players of the circular flow?
- Product market, stock market, factor market and fish market
- Product market, house market, factor market and good market
- Factor market, product market, households and firms
- Factor market, stock market, households and super market
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Question 7 of 10

7. Question
7. Scarcity is caused by the following: (choose the right option)
- Unlimited resources and limited wants and needs
- Unlimited wants and needs and limited resources
- Unlimited wants and needs and unlimited resources
- Limited wants and limited resources.
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Question 8 of 10

8. Question
8. The following aspects can be regarded as causes of socio-economic imbalances in South Africa
- Education
- Inequality and poverty
- Unemployment
- All of the above
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Question 9 of 10

9. Question
9. The negative impact of modern societies include:
- Improved quality of life and better medication and education
- Increased pollution and resource depletion
- Poor standard of living
- Production for personal consumption
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Question 10 of 10

10. Question
10. Biomimicry can be defined as:
- Reducing resources usage of goods and services
- Improving waste reduction, reuse and recycling
- Transferring methods found in nature into technical systems
- Ensuring greater durability of goods
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