Test
Micro Economics
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Preguntas del test (10)
1What is the basic economic problem?
- AScarcity
- BDebt
2What is opportunity cost?
- AThe next best alternative forgone
- BA limited resource
3What are the 4 factors of production?
- AEnterprise, Labor, Capital, Money
- BLand, Labor, Enterprise, Money
- CMoney, Enterprise, Capital, Land
- DCapital, Land, Enterprise, Labor
4Specialisation is.... the process in which individuals, firms and countries focus on just one area of production.
- AVerdadero
- BFalso
5Does division of labor decrease productivity?
- AVerdadero
- BFalso
6The advantages of specialisation are? (3)
- AIncreased productivity
- BReduces time spent on tasks
- CIncreases worker morale and motivation
- DMakes it easier to train workwes
- EIncreases worker flexability
7What are the disadvantages of specialisation? (3)
- AIt facilitates the use of automation
- BDecreases worker morale
- CCan result in a fall in staff productivity
- DIncreases time spent on tasks
- EWorker flexibility drcreases
8What is a PPF?
- AA diagrammatic illustration if the concept of scarcity
- BProduction Possibility Frontier
9The PPF shows the production potential of an economy given existing resources
- AVerdadero
- BFalso
10Which diagram is correct
- A
- B
- A
Información
- Descripción
- A Levels Economics Test sobre Micro Economics, creado por eloise.drake el 02/01/2014.
- Autor
- eloise.drake
- Idioma
- English
- Visitas
- 176
- Etiquetas
- Valoración
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