Economics Basics Flashcards

1

What are our limited means

Time, Money, Skills, Friends
Time, Money, Skills, Love
Time, Money, Skills, Family
Time, Money, Skills, Wifi

2

What is the Marketing Mix

Promotion, Place, Product, Physical Evidence
Promotion, Place, Product, Process
Promotion, Place, Product, People
Promotion, Place, Product, Price

3

What is the Opoourtunity Cost of coming to school

Earning Money
Riding your bike
Staying at Home
Helping your parents

4

The Basic Economic problem is

Want
Need
Oppourtunity Cost
Scarcity

5

Which of the following is not a want

Food
PS4
Iphone
MCDonalds

6

The next best alternative forgone is

Want
Scarcity
Means
Oppourtnity Cost

7

Firms that manufacture and process products from natural resources are from which sector

Manufacturer
Tertiary
Secondary
Primary

8

Steve Values Playing sport over TV and Sleep, what is the Oppourtunity cost

TV
Sleep
Sleep and Sport
TV and Sleep

9

Economics can be defined as

Consumer Behaviour
examines the behaviour of basic elements in the economy
Supply and Demand
Producer Behaviour

10

A Famer is likely to be from what sector of the economy

Public
Secondary
Tertiary
Primary

11

Which one is not a basic need

Shelter
Food
Water
Clothing

12

What does the Government spend tax on

Holidays overseas
Education
IDK
Furniture

13

A Bank is a business from which economic sector

Primary
Secondary
Service
Tertiary

14

Who is the Prime Miniter of NZ

Donald Trump
Bill English
Andrew Bramston
John Key

15

Something that we require for survival is called a

Want
Neeed
Need
Wanted

Economics Basics

Questions 15

Economics Basics

Questions 15