Quiz: Thinking like an Economist - Models and Assumptions
Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
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Welcome to this quiz on 'Thinking like an Economist: Models and Assumptions'. Test your knowledge with 10 questions!
What does 'ceteris paribus' mean in economics?
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Which of the following are assumptions made in economic models? (Select all that apply)
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The {{blank0}} problem in economics refers to the limited availability of {{blank1}} compared to unlimited wants.
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Match the items on the left with their correct pairs on the right
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If a country spends £100 million on consumer goods and £50 million on capital goods, what is the total expenditure?
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What is the main purpose of using models in economics?
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Which of the following are reasons economists use assumptions? (Select all that apply)
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A production possibility frontier (PPF) shows the maximum potential output of {{blank0}} and {{blank1}} goods within an economy.
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