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IGCSE Economics edexcel/pearson Bennett-revision Flashcards | StudBud
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IGCSE Economics edexcel/pearson Bennett-revision
IGCSE Economics edexcel/pearson Bennett-revision
20 terms
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A revision quiz
Flashcards
20 cards
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Questions
20
Answers
1
What does CPI stand for?
Changing prices indicator.
Consumer price indicator
Changing prices index
Consumer price index
2
What is progressive taxation?
Everyone pays the same proportion of their income in tax
Richer people pay a higher proportion of their income in tax
Poorer people pay a higher proportion of their income in tax
Pensioners pay a higher proportion of their income in tax
3
Which type of unemployment occurs when the demand for a product is only at certain times of the year?
Structural
Voluntary
Seasonal
Cyclical
4
Direct taxes will normally shift a supply curve to the left, (inwards)
True
False
5
The International Labour Organisation (ILO) measures
economic growth
government spending
unemployment
inflation
6
Which
one
of the following is a reason why consumers may not maximise their benefit?
Consumers may have habits that are hard to give up
Consumers are always rational when making decisions
Consumers never copy the behaviour of others
Consumers may accurately calculate the satisfaction they gain
7
Which
one
of the following terms refers to a tax on imported goods?
Tariff
Pollution permit
Fine
Subsidy
8
Which supply-side policy involves the removal of government controls?
Lower business taxes
Deregulation
Infrastructure spending
Education and training
9
Which
one
of the following is the term for the next best alternative given up when a choice is made?
Opportunity cost
Capital investment
Business competition
Spare capacity
10
Which
one
of the following is likely to be a trade-off as a result of increased economic growth?
Higher standards of living
Increased inflation
Increased employment
Higher fiscal surplus
11
Which
one
of the following does a point on a production possibility curve (PPC) represent?
How the production of all goods can be increased
Government revenue from production
A given amount of resources being fully employed
Where capital goods should be produced
12
Which method of protection is used to reduce the price of exports?
Free trade
Quotas
Tariffs
Subsidies
13
What type of unemployment is caused by a recession?
Structural
Voluntary
Cyclical
Seasonal
14
Member countries of a trading bloc agree to
have common borders between members
have the same rate of income tax
trade together with low or no barriers
only trade with members within the bloc
15
What is the name given to a firm that dominates a market?
An oligopoly firm
A secondary sector firm
A monopoly firm
A primary sector firm
16
Which
one
of the following best describes an income elasticity of demand (YED) of 2.6?
Unitary
Inferior
Luxury
Inelastic
17
A firm has a variable cost of €25 and charges a price of €75 per item. It sells 30 000 items. What is total revenue?
€ 400
€ 2 250 000
€ 30 075
€ 750 000
18
Which
one
of the following is likely to result in poverty?
High literacy rates
High employment rates
Low rates of tax
Low GDP per capita
19
Which
one
of the following factors may cause a shift of the demand curve?
Subsidies
Costs of production
Changes in price
Demographic changes
20
An appreciation in a country's exchange rate is most likely to lead to which
one
of the following?
A decrease in exports and a decrease in imports
A decrease in exports and an increase in imports
An increase in exports and an increase in imports
An increase in exports and a decrease in imports
