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Economics - Money Money
Economics - Money Money
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Economics Year 10
Flashcards
14 cards
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Practice quiz
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Questions
14
Answers
1
What are the four factors of production ?
Capital, Land, Labor, Enterprise
Capital, Land, Time, Money
Efficiency, Work Ethic, Money, Time
Capital, Land, Labor, Businesses
2
Why do markets fail ?
Missing Markets
Externalities
Lack of Information
Information lack of
3
Which is the inferior good ?
Samsung
Blackberry
Apple
Nokia
4
Factors that affect Demand ?
Industry
Population
Factors
Interest rates
5
What is it when there is a decline in the importance of the secondary industry ?
Deindustriliasation
Industriliastration
Inefficiency
Financial decline
6
Unscramble: eluaVddAedTx
Dirty Dogs Dancing
ValueAddedTax
Value Added Tax
Valid Delegates
7
Limited resources + Unlimited _____ + _____ = Economic Problem
People + Time
Money + Debt
Needs + Wants
Need + Want
8
Private Sector aims ?
Profit
Efficiancy
Reliability
Growth
9
Tertiary Sector
Provides services to consumers
Provides services to consuumers
A sector composed of only government owned buisnessess
A sector which is Tertiary
10
Define: Production Possibility Frontier
Curve showing maximum outputs of 2 resources
Curve showing maximum outputs of 1 resource
Curve showing decline in production
A line that is put in front of production
11
If I get a loan of 90,000 AED and the interest rate is 1.25%, How much do I pay back ?
111,500
95,500
110,500
112,500
12
What would be the opportunity cost be: Point C - Point A ?
20 Fod production
8 Clothing production
20 Food production
Nothing
13
What is term when the demand curve meets the supply curve ?
Equilibrium
Equalibrium
Equilabrium
Equalibriuim
14
When firms make enough profit to keep the owner/s/ happy (17)
Profit Satisfaction
Rolling in the monies
Industrialisation
Profit Satisficing
