1.
The consumer has to make a choice because wants are
2.
3. Which of the following describes economics as a science?
3.
2. Which branch of knowledge does economics belong to?
4.
Career prospect in the study of economics means..............
5.
Opportunity cost is the item.............
6.
What is the role of the government in a mixed economy?
7.
The following are the basic economics tool except
8.
The category of workers without formal education and training but have the knowledge and participate in production is..........
9.
Which of the following is an example of unskilled labor?
10.
In order to reach a sound conclusion about human behaviour, economics relies on the findings of other...........
11.
Which of the following is an example of opportunity cost for an individual?
12.
What does the concept of opportunity cost measure?
13.
Scarcity in economics refers to ________
14.
The reward of land is..................
15.
The most basic concern of the economist is to
17.
Economics is often described as a science because it
18.
Which term refers to the amount of a product or service that is available to consumers?
19.
Choice is necessary because resources _______
20.
How does economics differ from technical sciences?. . . and engineering principles.
21.
Which of the following is an example of a fixed cost in production?
22.
In economics, the three major mankind’s economic activities are..............
23.
The mean score is ________
Use the table below to solve the following questions
| Meat Purchased (kg) | 1 | 2 | 3 | 4 | 5 | 6 |
| Frequency | 2 | 4 | 10 | 8 | 5 | 1 |
24.
Opportunity cost is defined as
25.
Which of the following is a non-renewable resource found on land?
26.
The median score is ___________
Use the table below to solve the following questions
| Meat Purchased (kg) | 1 | 2 | 3 | 4 | 5 | 6 |
| Frequency | 2 | 4 | 10 | 8 | 5 | 1 |
27.
How does the government's understanding of opportunity cost influence policymaking?
28.
Which of the following is an example of opportunity cost for the government?
29.
Which of the following factors of production consists of man made goods
30.
The measure of central tendency in which the sum of observations is divided by the number of observations is called.......
32.
In economics production is completed when
33.
.................... is a situation where a particular goods is traded off in favour of another goods
34.
Economics in its field of study is majorly concerned with................
35.
Which of the following is not true about labor as a factor of production?
36.
The law of diminishing returns applies to.................
37.
Which of the following is NOT considered as a form of land?
38.
The only factor of production that is a free gift of nature is.............
39.
Land is a factor of production because it
40.
Which of the following is considered a basic economic problem of society?
