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    Economics Baseline Assessment Year 10

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    rofejaw411
    This document contains multiple choice and short answer questions about economic concepts such as the factors of production, the production possibilities frontier (PPF), and shifts in the PPF. It asks the test taker to identify factors of production, explain causes of increases in the quantity and quality of labor, define a PPF, draw a PPC graph showing a scenario of changing production levels, and explain shifts in the PPF with examples. The questions cover foundational microeconomics topics.

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    Economics Baseline Assessment Year 10

    Uploaded by

    rofejaw411
    39 views5 pages
    This document contains multiple choice and short answer questions about economic concepts such as the factors of production, the production possibilities frontier (PPF), and shifts in the PPF. It asks the test taker to identify factors of production, explain causes of increases in the quantity and quality of labor, define a PPF, draw a PPC graph showing a scenario of changing production levels, and explain shifts in the PPF with examples. The questions cover foundational microeconomics topics.

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    This document contains multiple choice and short answer questions about economic concepts such as the factors of production, the production possibilities frontier (PPF), and shifts in the PPF. It asks the test taker to identify factors of production, explain causes of increases in the quantity and quality of labor, define a PPF, draw a PPC graph showing a scenario of changing production levels, and explain shifts in the PPF with examples. The questions cover foundational microeconomics topics.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    39 views5 pages

    Economics Baseline Assessment Year 10

    Uploaded by

    rofejaw411
    This document contains multiple choice and short answer questions about economic concepts such as the factors of production, the production possibilities frontier (PPF), and shifts in the PPF. It asks the test taker to identify factors of production, explain causes of increases in the quantity and quality of labor, define a PPF, draw a PPC graph showing a scenario of changing production levels, and explain shifts in the PPF with examples. The questions cover foundational microeconomics topics.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Arav

    Sehlot
    Question 1
    Multiple choice questions. Type the correct answer in the box of the correct answer. E.g. 1.1 G

    1.1 The economic problem is


    A. The allocation of resources to achieve maximum output
    C B. The scarcity of proper production resources
    C. Unlimited wants and needs exceeding finite resources
    D. Human development is at slow pace
    (2)
    1.2 which of the following is a free good?
    A. Oxygen tank for snorkeling
    C B. An envelope given to you by the bank without charge, to place notes
    C. Cool air from the waterfall
    D. Stationery given out to under privileged school community
    (2)
    1.3 Reena makes a living by selling paintings of the town in which she lives. She sells them in an open-air
    market once a week. In order to be able to sell more pictures in a week she decides to buy a studio,
    pay someone to help in the studio and try to increase demand by advertising in the local paper.

    Which factors of production were changed?


    A. capital only
    C B. labour and capital
    C. labour and land
    D. labour only
    (2)

    1.4 Which of the following cases indicates an increase in the quality of labor as a factor of production?

    A. Staff members going on training for a weekend on how to maximize output.


    B. Workers going on strike for the increase of a wage rate.
    C
    C. Trade union negotiating better working conditions
    D. Workers only being allowed to work 4 hours a day in order to save cost.
    (2)

    1.5 A country produces 3000 new capital goods in a week. 500 of these replace worn out capital goods.
    What is the net investment made?

    A. 500
    B B. 2500
    C. 3000
    D. 3500
    (2)
    Question 2

    2.1 Explain two causes of an increase in the quantity of labour. (4)

    Higher working wages will make more people want to work.

    A change in the production process that makes it easier to work.

    2.2 Analyze how the quality of labour may increase over time. (6)

    Better working conditions makes workers work better.

    Better training results in better work.

    Question 3

    3.1 Define a PPF (3)

    Production Possibilities Frontier is a graph that shows all the different combinations of output of two goods
    that can be produced using available resources and technology.

    3.2 Draw a PPC for the following scenario.

    An economy produces textile and agricultural products. At maximum 1000tons

    can be produced for each of the products. The current quantity of units produced

    for textiles is 700tons and 700tons for agricultural products. Due to growth in population size after 9
    months the economy raises food production by 100tons as textiles drop by the same proportion.
    (8)

    (next page)
    1000

    textile

    700

    1000
    700 agriculture

    3.3 With the use of examples, explain the shifts in the PPC. (4)

    Change in resources can change demand and production will change.

    TOTAL 25

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