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Y9 Economics Revision 1 Flashcards | StudBud
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Y9 Economics Revision 1
Y9 Economics Revision 1
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Y9 Revision quiz of some basic economic concepts
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
In the circular flow model what goes from the households to the foreign sector
Imports
Taxes
Exports
Savings
2
What is the term for the rises in prices of goods and services over time?
Globalisation
Interdependence
Inflation
Affluenza
3
What goes on the vertical axis of a supply and demand graph?
Price
Quantity
4
What is the point where supply and demand curves cross each other called?
Price Equilibrium
Payment Mechanism
Sale Amount
Trade Deficit
5
In the circular flow model what goes from households to the government?
Taxes
Imports
Savings
Wages
6
Which of these is another term for online shopping?
E-commerce
Affluenza
Globalisation
Telemarketing
7
Which of the following is not a major multi/trans-national corporation?
Apple
Ikea
McDonalds
Harvey Norman
8
In the circular flow model what goes from the
government to businesses?
Exports
Product
Investment
Taxes
9
What type of income is paid as a % of the amount you made for the company?
Commission
Piece Rates
Salary
Wages
10
Which of these is a type of unearned income?
Piece Rates
Wages
Pension
Commission
11
What is the term for email scams trying to get your bank/credit card details?
Interdependence
Phishing
Trawling
Specialisation
12
What's the term for never being satisfied with what we have and always want more
Affluenza
Specialisation
Globalisaiton
Interdependence
13
Which of these is used to measure the rate of inflation?
Customer Prepaid Items
Customer Purchase Index
Consumer Price Index
Consumer Priority Inventory
14
Which type of income is often paid in 12 monthly or 26 fortnightly equal payments?
Commission
Salary
Piece Rates
Wages
15
Which of these is
not
a positive impact of globalisation?
People in less developed countries have jobs
Cheaper products
Exploitation of workers
More products available