Question 1
Which of the following best describes the basic economic problem?
Correct Answer:
Unlimited wants and finite resources
Question 2
A production possibility frontier (PPF) shifts outwards. Which of the following is most likely to have caused this?
Correct Answer:
An improvement in technology
Question 3
In a mixed economy, which of the following is most likely to be provided by the public sector?
Correct Answer:
National defence
Question 4
A fall in the price of beef causes the quantity of beef demanded to rise. This change is best described as:
Correct Answer:
A movement along the demand curve (extension)
Question 5
Which event would shift the supply curve for new cars to the LEFT?
Correct Answer:
A rise in steel prices
Question 1
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About this Exam

Prepare with the Higher Economics Practice Questions - Scottish Higher Economics Exam practice quiz. This question bank includes 100 questions covering price, demand, described, good, and market. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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Higher Economics Practice Questions - Scottish Higher Economics Exam

This practice set contains 100 questions from the matching question bank and focuses on price, demand, described, good, and market. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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