Lesson 4.1.1.2
4.1.1.2 The nature and purpose of economic activity Quiz: AQA Economics, Unit 1
20 questions
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Lesson 4.1.1.2, The nature and purpose of economic activity: 20 multiple choice questions for the AQA Economics (7136), Unit 1: Individuals, firms, markets and market failure, written with Revision Ninja.
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The 20 questions
-
What is the central purpose of economic activity in an economy?
- Maximising tax
- Increasing exports
- Eliminating scarcity
- Satisfying wants
-
Which option is NOT one of the three main economic decisions?
- Where to produce
- What to produce
- Who benefits
- How to produce
-
What does the economic decision about who benefits from production directly determine?
- Production methods
- Output distribution
- Factor combination
- Resource scarcity
-
Reallocating resources from car manufacturing to wind turbine production answers which economic question?
- How to produce
- Where to produce
- What to produce
- Who benefits
-
Switching from labour-intensive to capital-intensive production addresses which key economic question?
- Why to produce
- What to produce
- How to produce
- Who benefits
-
Economic activity uses scarce resources to produce goods and services to satisfy what?
- Import quotas
- Producer profits
- Needs and wants
- Government targets
-
What term describes a good or service essential for basic human survival?
- Luxury
- Want
- Need
- Capital
-
Which key economic decision is directly targeted by a renewable energy subsidy?
- What to produce
- Where to trade
- How to price
- Who to tax
-
Shifting output from basic essentials towards luxury consumer goods represents a change in which decision?
- How to produce
- Where to produce
- Who benefits
- What to produce
-
The economic decision of 'how to produce' primarily involves choosing what?
- Consumer incomes
- Output distribution
- Product prices
- Factor combinations
-
What is the central purpose of economic activity?
- Eliminating scarcity
- Satisfying needs
- Minimising taxes
- Maximising profit
-
Providing free school meals to low-income children directly addresses which key economic decision?
- Who benefits
- What to produce
- When to produce
- How to produce
-
Replacing seasonal farm workers with automated machinery is an example of which economic decision?
- Why to produce
- How to produce
- What to produce
- Who benefits
-
How are the key economic decisions primarily determined in a free market economy?
- Moral judgements
- Government planning
- Central taxation
- Price mechanism
-
Why must every economy make choices about what, how, and for whom to produce?
- Prices are fixed
- Markets fail
- Incomes are equal
- Resources are scarce
-
Building a new tram network instead of a highway addresses which key economic decision?
- How to produce
- What to produce
- Where to produce
- Who benefits
-
Producing goods that consumers do not want fails to fulfil which central economic purpose?
- Satisfying wants
- Creating capital
- Maximising profit
- Eliminating scarcity
-
Which government policy directly alters who benefits from economic output in a country?
- Taxation and benefits
- Capital accumulation
- Resource discovery
- Division of labour
-
Allocating state resources to military defence rather than public healthcare concerns which key decision?
- When to produce
- Who benefits
- How to produce
- What to produce
-
A factory switching production from disposable cups to reusable bottles makes which economic decision?
- What to produce
- Who benefits
- Where to produce
- How to produce
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