Year 8 Economics Quiz

which jobs are likely to be most secure in the future?

According to supply and demand, if price is low demand will be

At a price of $5 the quantity demanded was 200 & quantity supplied 50 How much was the shortage

According to the graph below, which industry has stayed most stable?

In supply and demand, what is the equilibrium point

The problem of people having unlimited wants & needs but limited resources is known as

If demand is greater than supply what should a producer do?

According to the graph below, manufacturing jobs have experienced a

Technological advances can create an increase in jobs in some industries

Australia is...

What is meant by 'specialisation' in economics?

Taxation is the input for which sector in the circular flow?

price goes on which axis of a supply and demand graph?

What goes on the horizontal axis of a supply and demand graph

The factor of production that involves combining the other three factors of production is

Demographics refers to:

At a price of $5 the quantity demanded was 200 & quantity supplied 50. This shows a ______

Inflation refers to

Technological advances can cause the loss of jobs in some industries

outsourcing refers to: