Basic Economics (Kaiwen)

Question 1

What is the 3rd largest desert in the world?

Accepted Answer

Gobi desert

Question 2

True or false: A school is a service provider.

Accepted Answer

True

Question 3

How many elements are on the periodic table of elements?

Accepted Answer

118

Question 4

What does demand mean?

Accepted Answer

the amount of products buyers want to purchase

Question 5

Which of these is a need not a want?

Accepted Answer

food

Question 6

Which of these is a want not a need?

Accepted Answer

fancy shoes

Question 7

Where is the world's largest outdoor ice skating rink?

Accepted Answer

Canada

Question 8

If a good is scarce that means it is

Accepted Answer

limited

Question 9

All of the following are factors of production EXCEPT

Accepted Answer

government support

Question 10

What is the meaning of consumers?

Accepted Answer

person or a group thats the final user of goods & services

Question 11

Which product would be inelastic?

Accepted Answer

gasoline

Question 12

The central problem in all of economics is that all goods or services are

Accepted Answer

limited or scarce

Question 13

True or false: public transportation is a service paid for largely with government money.

Accepted Answer

True!

Question 14

Which country is the world's leading producer of coal?

Accepted Answer

China

Question 15

All of the following can effect the public's demand for a good or service EXCEPT

Accepted Answer

availability of raw materials

Question 16

Tax money collect by the government pays for all the following EXCEPT

Accepted Answer

new businesses

Question 17

All of the following are determinants of demand EXCEPT

Accepted Answer

government actions

Question 18

What is the definition of a producer?

Accepted Answer

those who are making goods & service

Question 19

What is the atomic symbol Hg refer to?

Accepted Answer

Mercury

Question 20

Where will the 2024 Summer Olympics be held?

Accepted Answer

Paris

Question 21

What is the maximum time in prison you can get in Singapore for selling gum?

Accepted Answer

2 years

Question 22

If I want to ensure I make a profit on my goods I might:

Accepted Answer

cut back on the production costs

Question 23

Demand for all of the following would not really be affected by changes in price EXCEPT

Accepted Answer

dining out

Question 24

What principal does a production possibility curve demonstrate?

Accepted Answer

tradeoff

Question 25

Half of all the world's _________ live in China.

Accepted Answer

pigs

Question 26

Competition in the marketplace is a good thing because

Accepted Answer

it gives us more choices and keeps prices low

Question 27

True or false: Everyone in this classroom is a consumer.

Accepted Answer

True!

Question 28

This tale is the official airlines for what country?

Accepted Answer

Vietnam

Question 29

On a demand graph, the curve of elastic good or service would be

Accepted Answer

almost flat

Question 30

WeChat was first released in what year?

Accepted Answer

2011

Basic Economics (Kaiwen)

Questions 30

Basic Economics (Kaiwen)

Questions 30