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CSEC Economics

Paper 1 Demo Mock (10 Questions) • Exam Simulation • Results at Completion

Question 0 / 10
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Q1
Which of the following are functions of money?
I. Medium of exchange
II. Store of value
III. Measure of value
Q2
A free market economy is best described as one where
Q3
Which advantage is most directly associated with specialisation?
Q4
Price elasticity of demand measures the responsiveness of
Q5
A movement along a demand curve is caused by a change in
Q6
An outward shift of a production possibility curve most likely indicates
Q7
The value of the next best alternative forgone when a decision is made is known as
Q8
Which economic problem arises because resources are limited while human wants are unlimited?
Q9
Which factor of production is rewarded with wages?
Q10
An increase in the price of a substitute good will cause the demand for another good to
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