Economics revision
Economics Revision Quiz
Test your knowledge of key economic concepts with our engaging Economics Revision Quiz. Whether you're a student preparing for exams or just interested in brushing up on your economics, this quiz has something for everyone.
In this quiz, you'll cover essential topics like:
- Factors of Production
- Circular Flow Model
- Opportunity Costs
- Government Influence on Economy
The 4 Factors of Production are Land, Labour, Capital and Enterprise
True
False
An Opportunity cost is
In the Circular Flow Model the three withdrawals are : Bank, Government and Commerce
True
False
The Government can influence its income by:
Altering the Tax Rate
Encouraging People back into work
Borrowing Money
All of the above
The Economic Problem is concerned with : what, who and :
When
Where
How
On a typical Supply and Demand Graph the Quantity will be shown on the Vertical Axis
True
False
On a typical Supply and Demand Diagram the demand curve will slope downward from left to right
True
False
One of the issues the CMA is concern about is Monopoly, a Monopoly is:
GDP stands for
Gross Domestic Profit
Gross Direct Production
Gross Domestic Product
The Welfare State came into existance in the
40's
50's
60's
70's
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