31/08/2023, 23:12 Grade 9 quiz

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Grade 9 quiz
15 Questions DATE  : 

1. What gives rise to the problem of scarcity

A an uneven distribution of income B a lack of money

wants exceed resources capital equipment being greater than

C D
labour

2. As an economy becomes richer, what happens to resources and wants?

A resources increase and wants increase B resources decrease and wants increase

C resources decrease and wants decrease D resources increase and wants decrease

3. which of the following is an example of factor of production 'capital'

A tractor B a farm worker

the money a farmer has borrowed to buy the money the farmer has saved in the
C D
livestock bank

4. Which type of factor of production can be described as a 'natural resource'

A entrepreneur B land

C capital D labour

5. A woman owns a TV which she bought for $300. She is considering buying a better model
for $450. Her neighbor offers her $200 for her TV. What is the opportunity cost of her
rejecting this offer?

A $300 B $200

C $450 D $100

6. A man presently works as a builder. His previous jobs included working as a farm
labourer and a street trader. His next best-paid job is that of a carpenter, but he would
rather choose to work as a gardener, if he was not a builder. what will be the opportunity
cost of him working as a builder? Working as:

A a carpenter B a gardener

C a street trader D a farm labourer

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31/08/2023, 23:12 Grade 9 quiz

7. What does a production possibility curve show?

the price of the two products that are the popularity of two products
A B
produced with given resources

the amount of capital and labour in a the output of two products that can be
C D
country produced with the given resources

8. What are the three questions faced by all economies?

when to produce, how to produce and what to produce, how to produce and
A B
when to produce who receives it

where to produce, when to produce and what to produce, when to produce and
C D
why to produce who receives it

9. What encourages the firms to produce what consumers demand?

the chance to experience high cost of the desire to attract new firms into the
A B
production industry

the desire to keep the revenue as low as the chance to earn profit
C D
possible

10. Who decides what is produced in a market economy?

A Consumers B shareholders

C the government D Managers

11. The price is initially set above equilibrium. Market forces then move it towards
equilibrium. As price falls, what will happen to demand and supply

A demand contracts and supply contracts B demand contracts and supply extends

C demand extends and supply extends D demand extends and supply contracts

12. Which of the following is likely to cause the price of the lamb to increase?

successful advertising campaign for lamb a decrease in the number of sheep

A B
famers

C an increase in the price of beef D a subsidy given to the sheep farmers

13. What effect is an increase in advertising expenditure likely to have, on the demand and
supply curve of the product in the short term

A demand increases and supply increases B demand decreases and supply decreases

C demand increases and supply decreases D demand decreases and supply increases
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14. What could make demand for a product become more elastic?

a decrease in the time period under a fall in the proportion of income spent
A B
consideration on the product

a fall in price an increase in the number of close

C D
substitutes

15. Which profit making enterprise will not harm the environment?

deforestation of forests to obtain timber steel manufacturing, which generates the

A B
emission of carbon dioxide

recycling waste paper into newspapers intensive farming using chemical

C D
fertilizers

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