Year 11 Economics Quiz
Year 11 Economics Challenge
Test your knowledge of key economic concepts with our Year 11 Economics Quiz! This carefully crafted quiz features 8 multiple-choice questions covering vital topics in economics.
- Learn about capital rewards
- Discover the principles of consumer sovereignty
- Understand income inequality
What is the reward for Capital
Interest
Rent
Wages
Profit
Capital gains
Credit
Which is a leakage out of the CFI
Government expenditure
Offshore tax havens
Taxation
Exports
The Gini Coefficient is a measure of what?
Wealth
Poverty
Income inequality
CO2 emissions per capita
Consumer sovereignty is reduced by...
Theft
Violence
Decreased competition
Marketing
The marginal propensity to consumer is a measure of what?
Total proportion of income spent on consumption
Proportion of each extra dollar that is spent on consumption
Basic living standards
Disposable income
What is the technical optimum?
The right amount of money a business should invest in technology
The best location from which to run business operations
The most efficient level of production for a firm
The point where a worker is more productive
There will be a movement along the demand curve when
Consumer incomes increase
The stock market is doing well
Expected future prices decrease
The price of the good changes
Which of these products would likely have the closest to example of perfectly inelastic demand
Insulin
Toilet paper
Ferrari’s
Alcohol
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