Introduction to entrepreneurship/IENT103/Economics/Quiz

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The questions which follow provide a basic knowledge test of selected concepts covered in this learning pathway: Principles of economics for small businesses.

The questions published at the end of each learning pathway are re-used for the knowledge test for learners interested in earning a digital badge or certificate of participation for the Financing a business start-up (IENT103) micro-course. Please consult the Certify participation page for more information.

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True - false questions

Indicate whether the following statements are true or false:

  • In the context of the IENT103 materials, economic systems are all based on the question of why something is being produced.
  • A market economy is based on the principle of public ownership of businesses
  • A competitive market is made up of multiple buyers and sellers.
  • If a government is not involved in the economic system of its country in any way, the system is a free market.



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Multiple choice questions
  • Which ONE of the following statements is NOT true about a market economy?
  • In economic systems, when the supply of a good is the same as the demand, this is known as (select one answer):
  • Which ONE of the following statements about economic growth is INCORRECT?
  • Which ONE of the following economic indicators is reported on an almost daily basis?