[
    
    {
        "notes": "",
        "input": "Production",
        "output": "Question: \nWhich statement about factors of production is correct?\nA Capital is the money people keep in the bank.\nB Enterprise is found more in service industries than in manufacturing industries.\nC Labour includes only those who work using their hands.\nD Land includes resources found in or under the sea.\n\n\n\n Answer: D"
    },
    {
        "notes": "",
        "input": "Natural Resources",
        "output": "Question: \nChina earns enough income to purchase large quantities of natural resources from developing\ncountries.\n\nWhich statement explains this situation?\nA China does not experience the economic problem of scarcity.\nB Supplies of natural resources in China are limited relative to demand.\nC There are unlimited supplies of natural resources in developing countries.\nD There is an excess stock of land in China.\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Market Failure",
        "output": "Question: \nAlthough some economists believe that resources should be allocated through market forces,\nmarkets often fail.\n\nWhat might be an example of market failure?\nA access to subsidised health care\nB monopoly pricing of electricity supplies\nC prohibiting cigarette smoking in public places\nD regulation of interest rates charged by banks\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Profit",
        "output": "Question: \nA group of shops sells all its products at the same price of $1. It is still able to make a profit,\nalthough in other shops the products are sold at a higher price.\n\nWhich statement about this group of shops must be correct?\nA Consumers recognise that the group\u2019s products are better value.\nB Costs will be lower than in the other shops.\nC Revenue will be less than in the other shops.\nD The group does not advertise nor use any form of marketing.\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "Bank",
        "output": "Question: \nIn 2011, the Bank of England released into circulation a new design for the \u00a350 note to replace\nthe old design \u00a350 note.\n\nWhat might have been the reason for issuing these notes?\nA to ease the use of the barter system\nB to enable a means of exchange\nC to lower the external value of the \u00a3 sterling\nD to reduce inflationary pressures in the economy\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Employment",
        "output": "Question: \nA security company wishes to recruit an experienced person for a senior position to answer\ncustomers\u2019 emergency calls, some of which would be during the night. It is offering a good salary\nand a small apartment next to the company premises.\n\nWhich person would be most likely to apply and be offered the position?\nA a confident person currently employed in installing security systems for the company\nB a person who has experience of answering customers\u2019 queries in a travel company\nC a recently qualified engineering graduate in security systems\nD a reliable person who says that he needs to live with his young family of five children\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "Income",
        "output": "Question: Why do female workers in many countries have a lower income than male workers?\nA Female workers are more experienced.\nB Female workers are more likely to be employed part-time.\nC Female workers are more likely to be in trade unions.\nD Female workers have more qualifications.\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Economic Growth",
        "output": "Question: India is experiencing rapid growth in air travel. The number and size of airlines is increasing every\nyear.\n\nWhich effect arising from this growth is an external economy of scale?\nA Banks are more prepared to lend to large airlines rather than small airlines.\nB Colleges are established to train flight crew.\nC Fuel suppliers charge less to airlines that buy in bulk.\nD Larger airlines operate aircraft which can carry more passengers.\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Finance",
        "output": "Question: The financial director of a company adds up the cost for the firm of rent, insurance, new\nmachinery and the chief executive\u2019s basic salary. The director then divides that total by the firm\u2019s\noutput.\n\nWhat has the director calculated?\nA average fixed cost\nB average revenue\nC average total cost\nD average variable cost\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "Profit",
        "output": "Question: If a perfectly competitive market becomes a monopoly, what will be likely to increase and what\nwill be likely to decrease?\n\n\nincrease\ndecrease\nA barriers to entry\neconomies of scale\nB consumer choice\nprices\nC long-run profits\ncompetition\nD output\nmarket share\n\n\n\n Answer: C"
    },
    {
        "notes": "",
        "input": "Government Policy",
        "output": "Question: \n10\n5 0\ncosts\n($000)\noutput\n100\n\n\nWhat is the firm\u2019s total variable cost at an output of 100 units?\nA $250\nB $5000\nC $25 000\nD $30 000\n\n\n15 A government achieves a high rate of economic growth.\n\nWhat may result from this that might cause a conflict with other government aims?\nA it may increase government income\nB it may increase incomes for the lower paid\nC it may increase the supply of exports\nD it may increase the volume of imports\n\n\n\n Answer: D"
    },
    {
        "notes": "",
        "input": "Tax",
        "output": "Question: What type of tax is a tax of 10% on the price of petrol?\nA a direct tax\nB a progressive tax\nC an income tax\nD an indirect tax\n\n\n\n Answer: D"
    },
    {
        "notes": "",
        "input": "Tax",
        "output": "Question: What could a government in a developed economy do to decrease demand?\nA create a budget deficit\nB increase government spending\nC increase taxes\nD reduce interest rates\n\n\n\n Answer: C"
    },
    {
        "notes": "",
        "input": "Unemployment",
        "output": "Question: A country closed its oil wells because it had used up most of its supplies of oil.\n\nWhat type of unemployment would this cause?\nA cyclical\nB frictional\nC seasonal\nD structural\n\n\n\n Answer: D"
    },
    {
        "notes": "",
        "input": "Price Index",
        "output": "Question: In a country, in one year, average transport prices rose by 15% and the price of electrical\nproducts fell by 15%. The two products had equal weights in the retail price index.\n\nIf no other prices changed, what happened to the index?\nA It fell by less than 15%.\nB It fell by over 15%.\nC It remained unchanged.\nD It rose by less than 15%.\n\n\n\n Answer: C"
    },
    {
        "notes": "",
        "input": "Population Growth",
        "output": "Question: There is a decrease in a country\u2019s birth rate.\n\nWhat must occur at the same time to lead to an increase in the country\u2019s population?\nA positive net migration and a fall in the death rate\nB positive net migration and a fall in the fertility rate\nC zero net migration and a fall in infant mortality\nD zero net migration and a fall in the fertility rate\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "Poverty",
        "output": "Question: In 2008, the Peruvian Government set itself the target of reducing the number of its people in\npoverty to 30% of the population.\n\nWhat change does not indicate that the Peruvian Government had made progress towards this\nobjective?\nA a rise in employment\nB a rise in infant mortality\nC a rise in life expectancy\nD a rise in the level of adult literacy\n\n\n\n Answer: B"
    },
    {
        "notes": "",
        "input": "Trade",
        "output": "Question: Which would cause a favourable change in the Kenyan trade in services (invisible) account?\nA A Kenyan company wins a contract to transport exports from Uganda.\nB A Kenyan tea company increases its exports.\nC A Kenyan trade delegation visits India.\nD A Zambian company increases its exports to Kenya.\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "Specialisation",
        "output": "Question: What is most likely to result from an extension of specialisation in manufacturing?\nA for the consumer some prices will be reduced\nB for the country there will be less dependency on international trade\nC for the employee the work will become more varied\nD for the producer there will be less efficiency\n\n\n\n Answer: A"
    },
    {
        "notes": "",
        "input": "International Trade",
        "output": "Question: What would reduce the volume of international trade in the world economy?\nA a German bank making a loan to a Nigerian company\nB a Japanese car manufacturer establishing a factory in the Czech Republic\nC the Canadian Government introducing quotas on Malaysian electronics products\nD the Swedish Government granting aid to Somalia\n\n\n\n Answer: C"
    }

]