#1
Which sector is primarily concerned with the extraction of raw materials?
Primary sector
Secondary sector
Tertiary sector
Quaternary sector
#2
What is the main focus of the tertiary sector in the economy?
Manufacturing
Service provision
Agriculture
Mining
#3
What is the primary goal of economic development?
Maximizing government revenue
Minimizing inflation
Improving the standard of living
Promoting international trade
#4
Which economic system is characterized by private ownership of the means of production and market-based allocation of resources?
Socialism
Communism
Capitalism
Mixed economy
#5
What is the main objective of a fiscal policy?
Stabilizing prices
Controlling inflation
Managing government expenditure
Influencing the overall economy
#6
What is the term for the value of a country's exports minus its imports?
Trade balance
Budget surplus
Current account
Fiscal deficit
#7
Which economic indicator is used to measure the overall health of an economy?
Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Unemployment rate
Interest rate
#8
Which of the following is not a characteristic of a developed economy?
High GDP per capita
Low unemployment rate
Advanced technology
Limited infrastructure
#9
In economic terms, what is inflation?
Decrease in the overall price level
Increase in the overall price level
Stagnation in economic growth
Reduction in unemployment
#10
Which sector is responsible for transforming raw materials into finished goods?
Primary sector
Secondary sector
Tertiary sector
Quaternary sector
#11
In the context of economic development, what does the term 'Human Development Index (HDI)' measure?
Income inequality
Quality of life
Labor force participation
Government expenditure
#12
Which economic model suggests that a country should specialize in the production of goods and services in which it has a comparative advantage?
Keynesian economics
Mercantilism
Absolute advantage
Comparative advantage
#13
What does the term 'BRIC' refer to in the context of emerging economies?
Basic Requirements for Industrialization and Commerce
Brazil, Russia, India, China
Building Resilient International Coalitions
Business Regulation and Investment Control
#14
Which economic concept represents the total market value of all goods and services produced within a country in a specific time period?
Net National Product (NNP)
Gross National Income (GNI)
Gross Domestic Product (GDP)
National Income
#15
Which of the following is a measure of income distribution within a population?
Gini coefficient
Lorenz curve
Consumer Price Index (CPI)
Inflation rate