Your purchasing power will increase when...

your income increases more than the prices

A coin will only be used for exchange, when....

the extrinsic value exceeds the intrinsic value

These are the four production factors

Capital, Labour, Nature, Entrepreneurship

A budget plan is about.....

expected income and expenditure

A good is scarce when...

...you need production factors to produce it

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3HV-TTO Pincode Chapter 1

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Questions 17

Answers

1
If an apple costs €0,75, what is the price of the cantaloupe?
€2
€1,25
€1
€1,50
2
€50 is the....
nominal value
internal value
intrinsic value
extrinsic value
3
Jessica earns €12 per week baby sitting. Her monthly earnings are....
€48
€50
€52
€54
4
When 'needs' exceed 'means', there is...
Dissatisfaction
Abundance
Scarcity
Shortage
5
'Means' are:
Time and needs
Time and money
Wishes and needs
Money and possessions
6
Your purchasing power will increase when...
there is no scarcity anymore
your income increases more than the prices
your means exceed your needs
the prices increase more than your income
7
What happened in this graph?
Texting became cheaper
Calling became cheaper
The budget increased
Calling became more expensive
8
The picture is an example of...
indirect barter
barter
9
A coin will only be used for exchange, when....
the external value exceeds the internal value
the extrinsic value exceeds the intrinsic value
the intrinsic value exceeds the extrinsic value
the internal value exceeds the intrinsic value
10
These are the four production factors
Money, Labour, Materials, Machinery
Capital, Labour, Nature, Entrepreneurship
Money, Machinery, Nature, Labour
Capital, Machinery, Raw materials, Entrepreneurship
11
If your budget is €500, what is the price of a book?
€12,50
€17,50
€25
€20
12
I compare the price of two dresses. What function of money am I using?
exchange
saving
unit of account
13
A budget plan is about.....
expected income and expenditure
possessions and debt
needs and means
choosing between two options
14
Childbenefit for 3 children amounts to €650 per quarter. This is per week....
€54,17
€37,50
€54,67
€50
15
In our country, drinking water is a ...
...scarce good
...free good
16
The money on your bankaccount is called...
Checkable money
Chartal money
17
A good is scarce when...
...you need production factors to produce it
...you need to pay for it
...it is rare

3HV-TTO Pincode Chapter 1 Flashcards | StudBud