The Economics subject taught at the secondary school level in Papua New Guinea is essential for developing students' understanding of how societies allocate limited resources to meet their needs and wants. It introduces key concepts such as demand and supply, opportunity cost, production, government policies, international trade, and national development. As a subject assessed in the national examinations, Economics helps students build critical thinking and decision-making skills that are relevant both in academic pathways and real-life economic situations.
These multiple-choice questions are aligned with the national curriculum and serve as a valuable tool to help students revise core topics, prepare confidently for examinations, and appreciate the economic challenges and opportunities facing PNG today.
How to take the questions
Select the options by clicking on the radio button
Click on VIEW MY SCORE button at the end of the questions to view your results.
If you made mistake (s), you can try answer them again.
All the best
1. What is the basic economic problem faced by all societies?
2. Which of the following best defines opportunity cost?
3. What is the main function of money?
4. In a market economy, prices are mainly determined by:
5. What is inflation?
6. Which of the following is a characteristic of a mixed economy?
7. What does GDP stand for?
8. Which of the following is considered a capital resource?
9. Which statement is true about unemployment?
10. What is meant by demand?
11. Which of the following is a direct tax?
12. What is specialization in economics?
13. What is a subsidy?
14. A budget deficit occurs when:
15. What is meant by consumer sovereignty?
16. What is the law of demand?
17. Which of the following best describes capital in economics?
18. What is a characteristic of public goods?
19. What does the term ‘market equilibrium’ mean?
20. What role does the central bank play in an economy?
