This document contains a 10 question quiz on basic economics concepts. The questions cover topics like supply and demand, factors that influence satisfaction levels, sources of government income, definitions of economic terms like recession and depression, what makes markets work, characteristics of monopoly, what businesses aim to maximize, necessary properties of money, factors of production, and which type of company operates in the primary sector.

1. Basic Economics
Quiz Bee

2. • 1. Under normal circumstances, when the
price of a commodity falls, the quantity
demanded will _______________
• decrease
• increase
• remain unchanged
• nobody knows

3. • 2. Initially, when you consume more and
more of a commodity continuously, your
TOTAL satisfaction level will increase.
• True
• False

4. • 3. What usually constitutes the main source
of a government's income?
•
•
•
•
Loans
Taxes and levies
Profits from business undertakings
Grants from World Bank

5. • 4. When the economic activity in an economy
is on the decline, then it is called a _______ ?
•
•
•
•
boom
recession
deflation
depression

6. • 5. What is the single most important factor
that makes the markets work?
•
•
•
•
kapital
Markets don't work
Raw materials
Money

7. • 6. Monopoly is when there is a single
_______?
•
•
•
•
game
buyer
seller
market

8. • 7. A business firm tries to maximize its
________ ?
•
•
•
•
profits
revenue
sales
job retrenchment

9. •
•
•
•
•
8. For anything to be used as money, it must
be what?
fixed in value
legal tender
in fixed supply
readily acceptable

10. • 9. Which of the following is NOT a factor of
production?
•
•
•
•
A farm
A printing machine
A shopkeeper
A $10 note

11. • 10. Which company operates in the primary
sector?
• First Bangkok City Bank: a medium-sized
commercial Thai Bank
• Century City: Hong Kong holding company
with property and hotel interests
• Delta Gold: a rapidly expanding Australian
gold and platinum mining company
• Compass East Industries: a Thai ceiling fan
manufacturer

12. Picture Picture Muna Tayo!!!
Ayaw ko
Ayaw ko
aw..aw
aw..aw

13. Picture Picture # 1

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17. Picture Picture #5