Welcome to your Grade 9 Economics chapter 3
After carefully reading the following 30 questions, choose the correct answer.
1.
What is a resource called if the amount available is greater than the amount people desire at zero price?
2.
Which of the following is an example of an economic resource?
3.
What are the four categories of economic resources?
4.
In economics, "land" includes which of the following?
5.
What is the payment for the service of labor?
6.
Which economic resource refers to manufactured inputs used to produce other goods?
7.
What is the factor payment for capital?
8.
Resources that can be replaced over time through natural processes are called:
9.
Which of the following is a non-renewable resource?
10.
A market is defined as a place where:
11.
Which type of market involves the exchange of factors of production?
12.
In the circular flow model, households sell factor services in the:
13.
What moves from business firms to households in the product market?
14.
A two-sector circular flow model includes:
15.
In a three-sector model, what is the third sector added to households and firms?
16.
An economy that does NOT engage in international trade is called:
17.
What does the government collect from households and firms in the circular flow?
18.
According to the Ethiopian Constitution, who owns the land?
19.
Which of the following is an example of land degradation?
20.
Putting harmful chemicals into nature is called:
21.
Which measure involves using a resource over and over again?
22.
The circular flow of income shows that:
23.
Which of the following is NOT a characteristic of a renewable resource?
24.
Entrepreneurship is the resource that:
25.
In the circular flow, what do households provide to the government?
26.
The product market is where households are the:
27.
"Capital" in economics refers to:
28.
Which resource is most affected by deforestation?
29.
What is the payment for land?
30.
In an open economy, the circular flow includes:
