economics (final exam-grade 9)
Questions and Answers Updated
2026
PlannedBeconomyB-
BAnswerBTheBstateBcontrolsBallBeconomicBactivity.BItBdecidedBwhatBtoBproduce,BhowB
toBproduceBandBhowBtoBdistribute.
FreeBMarketBeconomyB-
BAnswerBTheBgovernmentBplaysBlittleBroleBinBeconomicBactivity.BTheBprivateBsectorBA
nswerBtheB3BeconomicBquestions.BTheBmainBgoalBisBtoBprovideBmaximization.
MixedBeconomyB-
BAnswerBBothBprivateBandBpublicBsectorBexistBinBthisBeconomy.BTheBaimBofBgovernm
entBisBtoBmaximizeBsocialBwelfareBandBtheBaimBofBtheBprivateBsectorBisBtoBmaximize
Bprofit.
causesBofBchangeBinBsupplyB-BAnswerB-BchangeBofBcostBofBproduction
-BimprovementsBinBtechnology
-Bsubsides
-BweatherBconditions
-BdisasterBandBwars
-BdepletionBofBresources
causesBofBchangeBinBdemandB-BAnswerB-BchangeBinBpriceBofBproduct
-BchangeBinBpriceBofBrelatedBproducts
-BchangeBinBincome
-Bpopulation
-Bpreferences
-BexpectedBfutureBprices
, 3BeconomicBsystemB-BAnswerB-BcommandBeconomy
-BfreeBmarket
-BmixedBeconomies
basicB3BeconomicBquestionsB-BAnswerB-BWhatBisBtoBbeBproduced?
-BHowBisBitBtoBbeBproduced?
-BHowBisBitBtoBbeBdistributed?
LawBofBdemandB-
BAnswerBTheBdemandBforBaBproductBisBinverselyBrelatedBtoBitsBprice.BAlsoBknownBas
B"ceterisBparibus"
DemandB-BAnswerBABwillingnessBandBabilityBtoBbuyBaBproduct
SupplyB-BAnswerBABwillingnessBandBabilityBtoBsellBaBproduct
EquilibriumB-BAnswerBdemand=Bsupply
subsidyB-BAnswerBfinancialBhelpBgivenBbyBgovt.BtoBencourageBproduction
4BfactorsBofBproductionB-BAnswerBland,Blabour,Bcapital,Benterprise
BarterBsystemB-
BAnswerBExchangingBofBgoodBforBgoodBinBtheBoldBdaysBwhenBthereBwasBnoBsystemB
ofBmoney.
FunctionsBofBmoneyB-BAnswerB-BUsedBasBaBmediumBofBexchange
-BActsBasBaBstoreBofBvalue
-BItBisBaBunitBofBaccount
Questions and Answers Updated
2026
PlannedBeconomyB-
BAnswerBTheBstateBcontrolsBallBeconomicBactivity.BItBdecidedBwhatBtoBproduce,BhowB
toBproduceBandBhowBtoBdistribute.
FreeBMarketBeconomyB-
BAnswerBTheBgovernmentBplaysBlittleBroleBinBeconomicBactivity.BTheBprivateBsectorBA
nswerBtheB3BeconomicBquestions.BTheBmainBgoalBisBtoBprovideBmaximization.
MixedBeconomyB-
BAnswerBBothBprivateBandBpublicBsectorBexistBinBthisBeconomy.BTheBaimBofBgovernm
entBisBtoBmaximizeBsocialBwelfareBandBtheBaimBofBtheBprivateBsectorBisBtoBmaximize
Bprofit.
causesBofBchangeBinBsupplyB-BAnswerB-BchangeBofBcostBofBproduction
-BimprovementsBinBtechnology
-Bsubsides
-BweatherBconditions
-BdisasterBandBwars
-BdepletionBofBresources
causesBofBchangeBinBdemandB-BAnswerB-BchangeBinBpriceBofBproduct
-BchangeBinBpriceBofBrelatedBproducts
-BchangeBinBincome
-Bpopulation
-Bpreferences
-BexpectedBfutureBprices
, 3BeconomicBsystemB-BAnswerB-BcommandBeconomy
-BfreeBmarket
-BmixedBeconomies
basicB3BeconomicBquestionsB-BAnswerB-BWhatBisBtoBbeBproduced?
-BHowBisBitBtoBbeBproduced?
-BHowBisBitBtoBbeBdistributed?
LawBofBdemandB-
BAnswerBTheBdemandBforBaBproductBisBinverselyBrelatedBtoBitsBprice.BAlsoBknownBas
B"ceterisBparibus"
DemandB-BAnswerBABwillingnessBandBabilityBtoBbuyBaBproduct
SupplyB-BAnswerBABwillingnessBandBabilityBtoBsellBaBproduct
EquilibriumB-BAnswerBdemand=Bsupply
subsidyB-BAnswerBfinancialBhelpBgivenBbyBgovt.BtoBencourageBproduction
4BfactorsBofBproductionB-BAnswerBland,Blabour,Bcapital,Benterprise
BarterBsystemB-
BAnswerBExchangingBofBgoodBforBgoodBinBtheBoldBdaysBwhenBthereBwasBnoBsystemB
ofBmoney.
FunctionsBofBmoneyB-BAnswerB-BUsedBasBaBmediumBofBexchange
-BActsBasBaBstoreBofBvalue
-BItBisBaBunitBofBaccount