Home Quiz Guess the Basic Economics Terminology
Preview (15 questions)
1 Question
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Q.

A compulsory levy on a taxpayer by the government.

Tariff

Tax
2 Question
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An agreement under which goods and services, or money is exchanged against a promise to pay later.

Credit

Debit
3 Question
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Assets held or obtained for expenditure.

Capital

Interest
4 Question
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The general rise in price levels over a period of time.

Growth rate

Inflation
5 Question
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The decrease in the monetary value of an asset over time.

Depreciation

Devalue
6 Question
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______ occurs when expenses exceed revenues.

Deficit

Surplus
7 Question
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The slowdown in economic activities.

Capital intensive

Recession
8 Question
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A fixed income tool representing the loan made by an investor to a borrower.

Bond

Equity
9 Question
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A benefit gave by the government to individuals or entities to make goods available to people at an affordable cost.

Stock

Subsidy
10 Question
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The rate at which one country's currency can be exchanged for another country's currency.

Exchange rate

Distant sale
11 Question
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It is the ease at which an asset can be converted to cash.

Appreciation

Liquidity
12 Question
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A year set as a reference point for comparison purposes.

Base year

Dividend
13 Question
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It is the mechanism by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.

Demand Schedule

Fiscal policy
14 Question
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This branch of the economy deals with interest rates and national productivity.

Microeconomics

Macroeconomics
15 Question
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A government policy of minimal or no interference in the economic affairs of individuals and society.

Laissez-faire

Ceteris paribus