Economic Performance - Year 10 Economics and Business

Question 1 of 10

2

There are six areas that are used to evaluate economic performance they are:

Select one of the following:

economic growth, inflation, levels of seasonal sales, the level of money market interest rates, balance of payments and currency exchange rates
economic growth, inflation, levels of unemployment, the level of money market interest rates, balance of payments and currency exchange rates
economic growth, deflation, levels of unemployment, the level of money market interest rates, balance of payments and currency exchange rates
None of the choices provided

Explanation

Question 2 of 10

2

GDP measures the total value of production of goods in an economy over a period of time.

Select one of the following:

True
False

Explanation

Question 3 of 10

2

Inflation is one measure of economic performance. It is measured using _______, which measures changes in the price of a common basket of _ goods and services purchased by _________________.
Select the answer below that fills the blanks in the correct order.

Select one of the following:

CPI, level, consumer, households.
GDP, level, consumer, households.
CPI, level, household, consumer
CPI, rises, consumer, households.

Explanation

Question 4 of 10

2

The balance of payments measures the:

Select one of the following:

movement of goods coming in and going out of Australia
movement of imports and exports coming in to Australia
movement of income coming in and going out of Australia
movement of income going out of Australia

Explanation

Question 5 of 10

2

If the Australian dollar falls in value imports become cheaper

Select one of the following:

True
False

Explanation

Question 6 of 10

2

A surplus means

Select one of the following:

an amount of something left over when most of the consumers requirements have been met.
An amount that is short to met consumers wants and needs
an amount of something left over when requirements have been met; an excess of production or supply.
None of the above

Explanation

Question 7 of 10

2

The government is most likely to intervene in the economy when it thinks that businesses are making too much profit?

Select one of the following:

True
False

Explanation

Question 8 of 10

2

The unemployment level is an important indicator of economic performance.
If the unemployment level is high, then:
- income tax revenue _
- government expenses
- crime rates _________
-stress in unemployed individuals may increase.

Select one of the following:

rises, rise, increase
rises, fall, increase
falls, rise, increase
None of the choices provided

Explanation

Question 9 of 10

2

In Australia we have a _______ economy. It is also sometimes referred to as a _ market economy, this is because we have an economy where the market runs itself but with some influence and participation by the ________________________.

Select one of the following:

modified, mixed, business
mixed, modified, government
command, modified, business
mixed, emerging, government

Explanation

Question 10 of 10

2

Quality of life and environmental factors are common non financial measures of the economy.

Select one of the following:

True
False

	Created by Cath Smeeteon over 7 years ago

Queensland Certificate of Education Economics and Business Quiz on Economic Performance - Year 10 Economics and Business, created by Cath Smeeteon on 01/12/2016.

Economic Performance - Year 10 Economics and Business

Question 1 of 10

There are six areas that are used to evaluate economic performance they are:

Select one of the following:

Explanation

Question 2 of 10

GDP measures the total value of production of goods in an economy over a period of time.

Select one of the following:

Explanation

Question 3 of 10

Select one of the following:

Explanation

Question 4 of 10

The balance of payments measures the:

Select one of the following:

Explanation

Question 5 of 10

If the Australian dollar falls in value imports become cheaper

Select one of the following:

Explanation

Question 6 of 10

A surplus means

Select one of the following:

Explanation

Question 7 of 10

The government is most likely to intervene in the economy when it thinks that businesses are making too much profit?

Select one of the following:

Explanation

Question 8 of 10

The unemployment level is an important indicator of economic performance. If the unemployment level is high, then: - income tax revenue ___________ - government expenses ____________ - crime rates ___________________ -stress in unemployed individuals may increase.

Select one of the following:

Explanation

Question 9 of 10

In Australia we have a _______________ economy. It is also sometimes referred to as a _______________ market economy, this is because we have an economy where the market runs itself but with some influence and participation by the ______________________________.

Select one of the following:

Explanation

Question 10 of 10

Quality of life and environmental factors are common non financial measures of the economy.

Select one of the following:

Explanation

The unemployment level is an important indicator of economic performance.
If the unemployment level is high, then:
- income tax revenue _
- government expenses
- crime rates _________
-stress in unemployed individuals may increase.

In Australia we have a _______ economy. It is also sometimes referred to as a _ market economy, this is because we have an economy where the market runs itself but with some influence and participation by the ________________________.