Quiz

1. Which of the following is NOT one of the four economic problems?

a. What to produce?

b. How to produce?

c. When to produce?

d. For whom to produce?

2. What does the question "What to produce?" refer to?

a. How to produce goods and services

b. Who should benefit from the goods and services produced

c. The decision of what goods and services should be produced given limited resources

d. Managing the economy to ensure economic growth and stability

3. Which of the following is NOT a factor to consider when deciding "What to produce?"

a. Consumer demand

b. Production costs

c. Availability of resources

d. The color of the product

4. What does the question "How to produce?" refer to?

a. The distribution of goods and services in society

b. Deciding who should benefit from the goods and services produced

c. The most efficient and cost-effective way to produce goods and services

d. Ensuring economic growth and stability

5. Which of the following is NOT a factor to consider when deciding "How to produce?"

a. The type of technology to use

b. The level of automation

c. The color of the product

d. The division of labor

6. What does the question "For whom to produce?" refer to?

a. The most efficient and cost-effective way to produce goods and services

b. Managing the economy to ensure economic growth and stability

c. Deciding who should benefit from the goods and services produced

d. The decision of what goods and services should be produced given limited resources

7. Which of the following is NOT an issue to consider when deciding "For whom to
produce?"

a. Income inequality

b. Poverty

c. Climate change

d. Distribution of wealth and resources

8. What does the question "How to ensure economic growth and stability?" refer to?

a. Managing the economy to ensure that it grows and remains stable over time

b. Deciding who should benefit from the goods and services produced

c. The most efficient and cost-effective way to produce goods and services

d. The decision of what goods and services should be produced given limited resources
9. Which of the following is NOT an issue to address when ensuring economic growth
and stability?

a. Inflation

b. Unemployment

c. Economic recession

d. Higher taxes for the rich

10. Which of the following is NOT a policy to promote sustainable economic growth?

a. Investing in education and training

b. Promoting innovation and entrepreneurship

c. Reducing income inequality and poverty

d. Building more factories and industries