16 Questions
What is a key factor to consider when comparing rural and urban economies?
Record of preserving biodiversity
Which economic factor is crucial for assessing the role of government in health care, education, and social welfare?
Percentage of GDP spent by the government
When comparing rural and urban economies, which factor contributes significantly to environmental sustainability?
Water productivity
What is a common metric used to assess the distribution of income in different economies?
Economic system
In evaluating environmental sustainability, which factor is directly linked to the role of government in public services provision?
Provision of public services
What is the main economic factor underlying individuals' choices related to retirement?
Resource use
Which economic factor influences businesses' choices on 'What to produce?' and 'How to produce?'
Industrial relations
In the context of government choices, what economic factor is related to 'Influencing the behavior of individuals'?
Resource use
'What wages to pay?' in the context of businesses' choices is primarily influenced by which economic factor?
Industrial relations
'Identify 2 activities the government may wish to discourage' falls under which economic factor?
Resource use
In a mixed economy, decisions regarding production and distribution are made by:
Market forces and government decisions
Which of the following is a key focus area when examining the similarities and differences between economies?
Distribution of income
What is a primary reason for government intervention in the allocation of resources in a market economy?
To provide goods and services that might not otherwise be provided
Which aspect can be influenced by government intervention in the distribution of income in an economy?
Social welfare payments
Environmental sustainability is a key consideration when comparing economies because:
It ensures long-term resource availability and quality of life
Which factor plays a significant role in determining the quality of life within an economy?
Employment opportunities
Test your understanding of economics concepts covered in Chapter 2 of the workbook. Questions cover skills revision, circular flow economies, globalisation, economic growth, quality of life, employment, unemployment, and income distribution.
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