Macroeconomics
Name a country that is a trading partner of the US.
China, Canada, Mexico, Japan, Germany
What is the currency of United Kingdom?
British Pound
What is the capital of United Kingdom?
London
Since human wants are unlimited and available resources are limited, what will a rational consumer do?
A. Be jealous of the neighbours
B. Renounce all wants and lead the life of a hermit
C. Satisfy the most urgent needs which can be met within his/her income levels
D. Be resigned to unhappiness
C. Satisfy the most urgent needs which can be met within his/her income levels
Why study Economics?
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Which country has the largest economy in the world?
USA (20 trillion GDP)
A common currency for the members of the Common Market in Europe is known as ____.
Euro
What is the capital of China?
Beijing
Monopoly is when there is a single _______ .
A. Game
B. Buyer
C. Seller
D. Market
C. Seller
What is the difference between microeconomics and macroeconomics?
Microeconomics is the study of decisions made by people and businesses. Macroeconomics studies the behavior of a country.
Define inflation
Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
What is the currency of Hong Kong?
Hong Kong Dollar
What is the capital of India?
New Delhi
A person who starts a business to produce a new product in the marketplace is known as _____.
Entrepreneur
Which country in the world consumes the most electricity?
China
What does GDP stand for?
Gross Domestic Product
What is the currency of India?
Indian rupee
What is the capital of Finland?
Helsinki
Suppose you eat cakes continuously. Then the satisfaction derived from eating the tenth cake, as compared to satisfaction derived from eating the ninth cake will be _______ ?
Less
Name three cities that are considered global financial centers.
London, New York, Hong Kong, Singapore, Zurich , Tokyo, Seoul, Boston , Geneva,
San Francisco (based on the Global Financial Centres Index)
Name one of the three top oil producing countries.
USA, Saudi Arabia, Russia
What is the currency of Japan?
Japanese Yen
Fun Fact: Japanese Yen is the third most traded currency in the foreign exchange market after the United States dollar and the euro.
Where is the headquarters of the European Union?
Brussels, Belgium
When the economic activity in an economy is on the decline, then it is called a _______ ?
Recession
Who is called the father of Economics?
Adam Smith