Economic Factors
3 years ago
alicorc
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10 QuestionsShow answers
  • Question 1
    30 seconds
    Q. What is the most likely cause of an increase in demand?
    answer choices
    Lower costs
    Price changes
    Higher salaries
  • Question 2
    30 seconds
    Q. What is the most likely cause of an increase in supply?
    answer choices
    Lower costs
    Higher Salaries
    Price changes
  • Question 3
    30 seconds
    Q. What does an interest rate cut usually mean?
    answer choices
    Higher costs
    Higher sales
    Higher taxes
  • Question 4
    30 seconds
    Q. Which of the following is a tax on company profits?
    answer choices
    Income tax
    Corporation tax
    VAT
  • Question 5
    30 seconds
    Q. What does a fall in the value of the pound mean?
    answer choices
    Lower prices
    Lower import prices
    Lower export prices
  • Question 6
    30 seconds
    Q. What is a recession?
    answer choices
    A fall in the value of the pound
    A fall in inflation
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  • Question 7
    30 seconds
    Q. A jumper is made in the UK and sold in the USA.  To the American economy, what is this an example of?
    answer choices
    An import
    An export
    A tariff
  • Question 8
    30 seconds
    Q. Which of the following is a tax on imports?
    answer choices
    VAT
    A tariff
    Corporation tax
  • Question 9
    30 seconds
    Q. What happens to the value of the pound when the exchange rate goes up?
    answer choices
    It appreciates
    It depreciates
    It stays the same
  • Question 10
    30 seconds
    Q. What best describes the "market price"?
    answer choices
    When a customer buys a product
    The amount customers pay for items when supply equals demand
    The place where buyers and sellers trade products
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