Basic Economic Principles Introduction Quiz
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Questions and Answers

What is the primary focus of the continuous assessment in this course?

  • Multiple choice tests based on the course or case study (correct)
  • In-class exercises and discussions
  • Participation in the latest economic events
  • Performance in theoretical knowledge and awareness of current affairs
  • How many reference readings are mentioned for this course?

  • One (correct)
  • Not explicitly mentioned in the text
  • Two
  • Three
  • At what time are the tests conducted as part of the continuous assessment?

  • 3:30pm (correct)
  • Not specified in the text
  • 2:30pm
  • 10:30am
  • What is the main factor that differentiates advanced economies from developing economies?

    <p>Quality of labor</p> Signup and view all the answers

    Which sector is a larger percentage and growing in the advanced economies?

    <p>Services</p> Signup and view all the answers

    What percentage of the world's food do advanced economies produce?

    <p>One third</p> Signup and view all the answers

    What differentiates advanced economies from developing economies in terms of technologies used on farms and in factories?

    <p>More capital-intensive technologies</p> Signup and view all the answers

    What is the main focus of microeconomics?

    <p>The study of the choices that individuals and businesses make</p> Signup and view all the answers

    Which chapter in the course would most likely cover the topic of 'Firm’s Market Structure'?

    <p>Chapter IV: Finance and Money</p> Signup and view all the answers

    What is the primary focus of Chapter III in the course curriculum?

    <p>The study of Demand and Supply : elasticities</p> Signup and view all the answers

    What does economics aim to study?

    <p>Choices made by individuals, businesses, governments, and entire societies in coping with scarcity</p> Signup and view all the answers

    Study Notes

    Course Objectives and Assessment

    • The primary focus of the continuous assessment in this course is not specified in the text.

    Course Structure and Readings

    • There is no mention of the number of reference readings for this course.

    Assessment Schedule

    • The time when tests are conducted as part of the continuous assessment is not specified in the text.

    Advanced and Developing Economies

    • The main factor that differentiates advanced economies from developing economies is not specified in the text.
    • The service sector is a larger percentage and growing in the advanced economies.
    • Advanced economies produce a significant percentage (not specified) of the world's food.
    • Advanced economies are differentiated from developing economies in terms of technologies used on farms and in factories, with advanced economies using more advanced technologies.

    Microeconomics

    • The main focus of microeconomics is not specified in the text.

    Course Curriculum

    • The topic of 'Firm’s Market Structure' would most likely be covered in a chapter on microeconomics, but the specific chapter is not specified.
    • The primary focus of Chapter III in the course curriculum is not specified in the text.

    Economics

    • Economics aims to study how to allocate limited resources to meet unlimited human wants.

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    Quiz Team

    Description

    Test your understanding of basic economic principles and their application in daily economic events. This quiz covers topics from the main reference readings such as 'Economics' by Glenn P. Hubbard and Anthony P. O'Brien, as well as current affairs highlighted in 'The Economist' and 'Financial Times'.

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