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Economics Pre-Test
By Danni REID
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Last updated over 5 years ago
15 questions
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Question 1
1.
Define Economy
The wealth and resources of a country or region
Best value for Money
Being Rich
The most important city or town
Question 2
2.
Define Distribution
A mathematical bell-curve
The act of sharing resources
Occur throughout an area
Broadcaste something
Question 3
3.
Define Financial
Question 4
4.
Define Labour
Question 5
5.
Define Income
Question 6
6.
Microeconomics refers to personal finances
True
False
Question 7
7.
Define inflation
Question 8
8.
What is unemployment?
Question 9
9.
What is the impact of unemployment on the person who is unemployed?
Question 10
10.
What would be the impact of unemployment on society?
Question 11
11.
Look at Source A, what are Australia’s major exports?
Question 12
12.
Look at Source A, what are Australia’s major imports?
Question 13
13.
What are the benefits and problems of trade?
Question 14
14.
Look at Source B, select the top 3 trading partners
China
USA
Japan
Taiwan
South Korea
Hong Kong
Indonesia
Singapore
India
Malaysia
European Union
New Zealand
Question 15
15.
Explain what you think would be the impact on Australia if it no longer traded with countries in Asia.