Ultimate PNG Economics Test – Try It Before Your Exam!
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Students in Papua New Guinea need to learn Economics well because it helps them understand how everyday choices affect their lives, families, and communities. By studying Economics, students learn about scarcity, resources, and decision-making, which are important for managing money, using resources wisely, and planning for the future. The subject also develops critical thinking and problem-solving skills that are useful in school and in many careers such as business, banking, public service, and entrepreneurship. When students understand Economics, they are better prepared to make smart financial decisions, support their communities, and contribute positively to the country’s development.
QUESTION 1 OF 20
What is Economics mainly concerned with?
Which of the following best defines Economics?
Who are the main decision-makers in an economy?
What is the basic economic problem?
Scarcity means:
Opportunity cost refers to:
Which of the following is an example of opportunity cost?
Which of the following is NOT a factor of production?
Land as a resource includes:
Labour refers to:
Capital includes:
Entrepreneurship involves:
What question must every economy answer?
“What to produce” refers to:
“How to produce” refers to:
“For whom to produce” refers to:
In a traditional economy, decisions are based on:
In a market economy, decisions are mainly made by:
In a command economy, who makes economic decisions?
Papua New Guinea has which type of economy?
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