Welcome to your Grade 9 Economics chapter 2
After carefully reading the following 30 questions, choose the correct answer.
1.
What is the fundamental cause of all economic problems?
2.
Scarcity is defined as the imbalance between:
3.
Which of the following concepts is best described as the cost of a decision expressed in terms of the next best alternative?
4.
A Production Possibility Curve (PPC) depicts the maximum output combinations of how many goods?
5.
What does a point lying inside the Production Possibility Curve indicate?
6.
Why is the Production Possibility Curve usually concave to the origin?
7.
Which basic economic question is referred to as the "problem of choice of technique"?
8.
The question "For whom to produce?" deals with the:
9.
An economic system where decisions are based on customs and beliefs is called:
10.
In a pure capitalist economy, how are the basic economic questions answered?
11.
What is another name for a command economy?
12.
Which economic system combines features of both market and command economies?
13.
"Laissez-faire" is a term associated with which economic system?
14.
What can cause a Production Possibility Curve to shift outward?
15.
In which economic system is private property generally NOT allowed?
16.
Which of the following is a characteristic of a traditional economy?
17.
Economic growth is graphically represented by:
18.
In a capitalist economy, what is the main motive for production?
19.
The problem of "What to produce" involves a choice between:
20.
Asymmetric growth occurs when productivity increases in:
21.
Which of the following is a central problem of an economy?
22.
In a mixed economy, the government uses planning to:
23.
The belief that people should receive the same rate of pay for a job regardless of characteristics unrelated to ability is called:
24.
Which technique of production uses more labor than capital?
25.
Scarcity exists because human wants are:
26.
A points lying outside the PPC is:
27.
The PPC is also known as:
28.
What is the main disadvantage of a traditional economy?
29.
In a command economy, economic activities are controlled by:
30.
Which of the following is NOT one of the three basic economic questions?
