Репост из: Ethio Quizzes
🎯2005 EUEE Economics for Grade 11 - Unit One
1. In circular flows of income and expenditure, real flows consist of flows of
(A) the money incomes from factor services such as rent.
(B) the money expenditures incurred for the purchase of good and services.
(C) goods and services from the producers to the buyers.
(D) factor services from the producers to the owners of a factor.
2. Which of the following is the main feature of capitalism?
(A) Collective ownership
(B) Clear social and economic objectives
(C) Maximum social welfare
(D) Profit motive
3. Which of the flowing is true about opportunity cost?
(A) Opportunity cost of producing a good is the number of units of another good forgone to produce one additional
(B) Opportunity cost of producing a good is the same as average production cost of that good.
(C) Opportunity cost of producing a good is the same as the marginal production cost of that good.
(D) Opportunity cost of producing a good is the same as the market price of that good.
4. An economist identified the variables related to a problem of interest and went to collect data on the variables. After collecting the data, a preliminary assessment of the data was made to make hypothesis on the possible relationship between the variables. The method used is:
(A) Deductive
(B) Inductive
C) Integrated deductive and inductive
D) Integrated positive and normative
@Ethioquizzes
@Ethiomatrichub
@Ethiomatrics
1. In circular flows of income and expenditure, real flows consist of flows of
(A) the money incomes from factor services such as rent.
(B) the money expenditures incurred for the purchase of good and services.
(C) goods and services from the producers to the buyers.
(D) factor services from the producers to the owners of a factor.
2. Which of the following is the main feature of capitalism?
(A) Collective ownership
(B) Clear social and economic objectives
(C) Maximum social welfare
(D) Profit motive
3. Which of the flowing is true about opportunity cost?
(A) Opportunity cost of producing a good is the number of units of another good forgone to produce one additional
(B) Opportunity cost of producing a good is the same as average production cost of that good.
(C) Opportunity cost of producing a good is the same as the marginal production cost of that good.
(D) Opportunity cost of producing a good is the same as the market price of that good.
4. An economist identified the variables related to a problem of interest and went to collect data on the variables. After collecting the data, a preliminary assessment of the data was made to make hypothesis on the possible relationship between the variables. The method used is:
(A) Deductive
(B) Inductive
C) Integrated deductive and inductive
D) Integrated positive and normative
Comment Your Answer!
@Ethioquizzes
@Ethiomatrichub
@Ethiomatrics