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Economic Performance - Year 10 Economics and Business

Cath Smeeteon 10 questions

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Questions in this quiz (10)

  1. 1There are six areas that are used to evaluate economic performance they are:Image for question 1
    1. Aeconomic growth, inflation, levels of seasonal sales, the level of money market interest rates, balance of payments and currency exchange rates
    2. Beconomic growth, inflation, levels of unemployment, the level of money market interest rates, balance of payments and currency exchange rates
    3. Ceconomic growth, deflation, levels of unemployment, the level of money market interest rates, balance of payments and currency exchange rates
    4. DNone of the choices provided
  2. 2GDP measures the total value of production of goods in an economy over a period of time.Image for question 2
    1. ATrue
    2. BFalse
  3. 3Inflation is one measure of economic performance. It is measured using _________________, which measures changes in the price ____________ of a common basket of _____________________ goods and services purchased by ___________________________.
    Select the answer below that fills the blanks in the correct order.    Image for question 3
    1. ACPI, level, consumer, households.
    2. BGDP, level, consumer, households.
    3. CCPI, level, household, consumer
    4. DCPI, rises, consumer, households.
  4. 4The balance of payments measures the:Image for question 4
    1. Amovement of goods coming in and going out of Australia
    2. Bmovement of imports and exports coming in to Australia
    3. Cmovement of income coming in and going out of Australia
    4. Dmovement of income going out of Australia
  5. 5If the Australian dollar falls in value imports become cheaperImage for question 5
    1. ATrue
    2. BFalse
  6. 6A surplus meansImage for question 6
    1. Aan amount of something left over when most of the consumers requirements have been met.
    2. BAn amount that is short to met consumers wants and needs
    3. Can amount of something left over when requirements have been met; an excess of production or supply.
    4. DNone of the above
  7. 7The government is most likely to intervene in the economy when it thinks that businesses are making too much profit?Image for question 7
    1. ATrue
    2. BFalse
  8. 8The unemployment level is an important indicator of economic performance.
    If the unemployment level is high, then:
    - income tax revenue ___________
    - government expenses ____________
    - crime rates ___________________
    -stress in unemployed individuals may increase.    Image for question 8
    1. Arises, rise, increase
    2. Brises, fall, increase
    3. Cfalls, rise, increase
    4. DNone of the choices provided
  9. 9In Australia we have a _______________ economy. It is also sometimes referred to as a _______________ market economy, this is because we have an economy where the market runs itself but with some influence and participation by the ______________________________.Image for question 9
    1. Amodified, mixed, business
    2. Bmixed, modified, government
    3. Ccommand, modified, business
    4. Dmixed, emerging, government
  10. 10Quality of life and environmental factors are common non financial measures of the economy.Image for question 10
    1. ATrue
    2. BFalse

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Description
Queensland Certificate of Education Economics and Business Quiz on Economic Performance - Year 10 Economics and Business, created by Cath Smeeteon on 01/12/2016.
Language
English
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