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Economics
Economics
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Flashcards
16 cards
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Practice quiz
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Questions
16
Answers
1
In a closed economy GDP at market price can be calculated by which formula?
C+G+I
C+G+(X-M)
C+I+G+(X-M)
C+I+GIM
2
The market in which buyers do not have perfect knowledge of market conditions?
Local market
National market
Imperfect market
perfect market
3
Black markets involve;
The selling of legal goods
The selling of free goods
The selling of illegal goods
The selling of rompers
4
What does the (-)hyphen represent on a marginal and total utility table?
1
0
Evans smartness
Nothing
5
Factors that influence demand?
Strikes
Advertising
amount of producers
Consumer income
6
Central govern includes ...?
Parliament and departments
Parliament and government departments
Parliament and development
7
Y and Z represent ... on a PPc curve.
Limited quantity supplied
Inefficient production
Scarcity
Efficient production
8
What does Ad valorem mean?
The change of quantity.
According to the price.
The amount of a product
The efficiency of a product
9
What is the basic economic problem?
Scarcity
goods and services
Mr. Sutcliffe
Expenses
10
What is the market mechanism ?
The interaction between a movement and a shift
The interaction between PPC and Supply
The interaction between demand and supply
The interaction between PPC and Demand
11
The price the consumers actually pays for goods and services when calculating GDP is called?
Evan prices
merit prices
Basics prices
Market prices
12
An example of monopoly?
FNB
Engen
Eskom
Adidas
13
In a closed economy GDP at market price can be calculated by the following formula...
C+I+GIM
C+I+G+(X-M)
C+G+I
C+G+(X-M)
14
What is the name of the stock exchange of Japan?
Nikkei
Han Seng
Shangai
Kospi
15
Give an example of a tax on products in SA?
expense tax
Value added tax
Sutcliffe tax
Income tax
16
What will happen when the demand for Evans rompers increase?
move along the curve
Shift right
No shift
Shift left
