Revision Chapter 1

• Economie
• Middelbare school
• havo, vwo
• Leerjaar 3

Revision Chapter 1

3rd years - DLE

How can you divide needs in two?

When is something scarce in economics?

A good is economically scarce when it needs to be produced

1. true
2. false

A good is a free good when it does not require recourses to produce.

1. true
2. false

What is the difference between durable and non-durable goods?

A restaurant produces both goods and services. Explain.

Money and time are alternatively applicable. Explain.

The ownership of a car brings about different kinds of expenses. What type of expense is: petrol

1. Flexible expenses
2. Fixed expenses
3. Discretionary expenses

The ownership of a car brings about different kinds of expenses. What type of expense is: Routine maintenance

1. Flexible expenses
2. Fixed expenses
3. Discretionary expenses

The ownership of a car brings about different kinds of expenses. What type of expense is: car repairs

1. Flexible expenses
2. Fixed expenses
3. Discretionary expenses

The ownership of a car brings about different kinds of expenses. What type of expense is: vehicle tax

1. Flexible expenses
2. Fixed expenses
3. Discretionary expenses

A household earns € 2,500 per month, Calculate the weekly budget.

What is the difference between direct and indirect exchange?

Which function of money do you recognize?
You buy a laptop for € 249

1. Exchange
2. Saving
3. Calculating

Which function of money do you recognize?
Domino pizza's profit increased by 17% to $567 million

1. Exchange
2. Saving
3. Calculating

Which function of money do you recognize?
You save some of your pocket money to buy sneakers

1. Exchange
2. Saving
3. Calculating

Nominal income has increased with 3%. Inflation that year is 1.5%. Calculate the changes in purchasing power, using index numbers.

What does a production chain represent?

A firm sold 2,500 chairs. The turnover that year was € 450,000. Calculate the average sales price of one chair.

The turnover is € 450,000. The purchase value is € 200,000. Other production costs are € 50,000. The company spend € 100,000 on wages and € 25,000 on rent. Calculate the profit or loss for this firm.

€ 20 per week = ... per quarter?

€ 45 per month = ... per week?

One bread costs € 2.38. When it is on offer it costs € 2.10. Calculate the percentage discount.

Turnover in 2013 was € 370 million. In 2014 it was € 280 million and in 2015 it was € 320 million. Calculate the index numbers for 2013, 2014 and 2015 if 2013 is the base year.

In 2014 the index number for wages is 102. The index number for the price level is 101. Calculate the change in purchasing power.

In 2016 the index number for wages is 105. The index number for the price level is 106. Calculate the change in purchasing power.

An ice-cream truck sells 600 ice-creams on a sunny day, at € 1.75 each. The purchase price is € 0.60 a piece. The profit amounts to € 450. Calculate the purchase value and the turnover for the ice cream truck.

Jenny earns € 2,345 per month. She saves 26% of her income. How much money does she save?

Jenny earns € 2,345 per month. On groceries she spends € 450 per month. How much percent of her income does she spend on groceries?