#1
Which of the following best describes the concept of 'technological unemployment'?
An increase in job opportunities due to technological advancements
A decrease in job opportunities due to technological advancements
A shift in job roles without affecting overall employment rates
An increase in wages resulting from technological advancements
#2
What does the term 'Gig Economy' refer to?
An economy based on physical goods production
An economy where all transactions are conducted online
An economy characterized by short-term freelance work
An economy where government controls all major industries
#3
What is the primary purpose of encryption in technology?
To enhance internet speed
To protect data confidentiality
To increase computer processing power
To improve software compatibility
#4
What is the term used to describe the phenomenon where the value of a network or product increases as more people use it?
Exponential growth
Network effect
Marginal utility
Elasticity
#5
What does 'AI' stand for in the context of technology?
Advanced Internet
Artificial Intelligence
Automated Innovation
Augmented Interface
#6
Which economic concept refers to the idea that resources are limited but wants and needs are infinite?
Scarcity
Surplus
Utility
Abundance
#7
In economics, what does 'GDP' stand for?
Global Demand Projection
Gross Domestic Product
General Development Protocol
Government Distribution Plan
#8
What is the 'Laffer Curve' used to illustrate?
The relationship between supply and demand
The impact of inflation on purchasing power
The relationship between tax rates and government revenue
The effects of technological innovation on productivity
#9
Which of the following is NOT a characteristic of monopolistic competition?
Many buyers and sellers
Product differentiation
Free entry and exit
Price taker
#10
Which economic indicator measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services?
Consumer Price Index (CPI)
Gross Domestic Product (GDP)
Producer Price Index (PPI)
Unemployment Rate
#11
Which economic theory argues that government intervention in the market is often necessary to ensure economic stability and promote social welfare?
Keynesian economics
Monetarism
Supply-side economics
Austrian economics
#12
What does the term 'disruptive technology' refer to?
Technological innovations that improve existing products
Technological advancements that maintain the status quo
Innovations that fundamentally change existing markets or industries
Technological developments with minimal impact on society
#13
Which economic concept is illustrated by the idea that individuals and firms make decisions based on comparing marginal costs and marginal benefits?
Opportunity cost
Diminishing returns
Rational choice
Market equilibrium
#14
What is the term for a sudden, significant, and often unpredictable change in technology or the economy?
Technological revolution
Economic boom
Black swan event
Market correction