Scribd
Upload
26 views6 pages

Worksheet 1.B

This document is a worksheet for Grade 9 IGCSE Economics focusing on Unit 1, which covers the basic economic problem. It includes matching terms with definitions, completing sentences, calculations related to wage costs and net investment, multiple-choice questions, and comparison exercises. The worksheet aims to assess students' understanding of economic concepts and their application.

Uploaded by

Vihaan Kenia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
26 views6 pages

Worksheet 1.B

This document is a worksheet for Grade 9 IGCSE Economics focusing on Unit 1, which covers the basic economic problem. It includes matching terms with definitions, completing sentences, calculations related to wage costs and net investment, multiple-choice questions, and comparison exercises. The worksheet aims to assess students' understanding of economic concepts and their application.

Uploaded by

Vihaan Kenia
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 6

Name: _______________________________________________ Grade: 9 [IGCSE]

Subject: Economics [0455] Topic: Unit 1 – The basic economic problem Date: / /2023

Worksheet – 1.B

Instructions: Read each question carefully and do as directed.

1) Match the following terms with an appropriate definition. For example, if you think an
‘inability of workers to change jobs and location’ defines ‘scarcity’, match 1 with c. Each
term has an appropriate definition. If you find that you are left with a term and a
definition which do not appear to match, you should review your other matches.

CAMBRIDGE IGCSE ECONOMICS 1


2) Complete the following sentences by filling in the missing word or words:

a) It is not possible to eliminate ____________________ as ____________________ grow


faster than economic resources.

b) The economic problem means that people have to make ____________________.

c) Most land is ___________________ mobile, but geographically ___________________.

d) If gross investment exceeds depreciation there is ____________________ investment.

e) The payment labour receives is ____________________, whilst ____________________ is


the payment entrepreneurs receive.

f) A country’s labour force can be increased by ____________________ the retirement age and
____________________ the school leaving age.

g) Output is __________________, whereas __________________ is output per worker hour.

h) A key role of entrepreneurs is to bear ____________________ risks.

i) Another name for a production possibility curve is an ____________________ cost curve.

j) A production possibility curve shows the maximum output of ____________________


products with existing resources and ____________________.

3) Calculate the following.


a) A firm employs 26 workers, paying each one $75 a week. What is the firm’s total wage cost?

$ ………………………………..

b) A country produces $900 million capital goods in a year. There is depreciation of $620
million. What is net investment?

$ ………………………………..

CAMBRIDGE IGCSE ECONOMICS 2


3) Diagram study
Using Figure 1.1 state

a) The opportunity cost of increasing the output of consumer goods from 60m to 90m
consumer goods.

…………………………………..
b) The opportunity cost of producing 80m capital goods.

…………………………………..

4) Draw a production possibility curve showing the effect of an increase in the quantity
of resources.

CAMBRIDGE IGCSE ECONOMICS 3


5) Multiple choice Questions

a) What would cause an increase in the problem of scarcity?

A A reduction in resources
B A reduction in wants
C A rise in productivity
D A rise in the mobility of resources

b) Four firms can produce soap and perfume. The table below shows the maximum number of
bars of soap, and bottles of perfume, that each firm can make each day if they specialise in one
type of product.

A Firm W
B Firm X
C Firm Y
D Firm Z

c) What is meant by ‘labour’ in economics?

A Hard physical work used to produce manufactured goods


B Human mental and physical effort used in producing goods and services
C Natural resources used in the productive process
D Risk taking and organising the factors of production

CAMBRIDGE IGCSE ECONOMICS 4


d) Which item used in the production of textiles by a firm would an economist classify as land?

A Sewing machines
B The factory
C Untrained workers
D Water taken from a river

e) What is meant by investment in human capital?

A Encouraging immigration of people of working age


B Paying bonuses to workers to encourage them to increase their output
C Spending money and time on educating and training workers
D Upgrading the machines labour works with

6) Compare and contrast.


Identify one way in which each of the following pairs is similar:
a) Builders and teachers
…………………………………………………………………………………………………
…………………………………………………………………………………………………
b) Wind and sunlight
…………………………………………………………………………………………………
…………………………………………………………………………………………………
c) A movement along and a shift in a production possibility curve.
…………………………………………………………………………………………………
…………………………………………………………………………………………………
d) Wages and profit
…………………………………………………………………………………………………
…………………………………………………………………………………………………
e) Finite resources and limited resources.
…………………………………………………………………………………………………
…………………………………………………………………………………………………

CAMBRIDGE IGCSE ECONOMICS 5


Identify one way in which each of the following pairs is different:
a) Geographical immobility and occupational immobility.
…………………………………………………………………………………………………
…………………………………………………………………………………………………
b) A production point on a production possibility curve and a production point to the
right of a production possibility curve.
…………………………………………………………………………………………………
…………………………………………………………………………………………………
c) Sunshine and a solar panel.
…………………………………………………………………………………………………
…………………………………………………………………………………………………
d) An increase in the quantity of an economy’s factors of production and an increase in
the quality of an economy’s factors of production.
…………………………………………………………………………………………………
…………………………………………………………………………………………………
e) Capital goods and consumer goods.
…………………………………………………………………………………………………
…………………………………………………………………………………………………

CAMBRIDGE IGCSE ECONOMICS 6

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy