Quiz: Economics Chapter 2 Trivia Questions!
Welcome to chapter two of our ongoing analysis on the social science of economics, the study which looks at how economic agents behave and interact with one another, and how economies work in general. There are some key questions you need to be able to answer if you want to understand economics to the full extent, and in the following quiz, we’re going to look at what they are!
- 1.Each society determines who will consume what is produced based on
- A.
Its unique combination of social values and goals
- B.
Economic equality
- 2.To improve its standard of living, a nation's economy must
- A.
Grow through innovation
- B.
All the central government to make economic decisions
- 3.Traditional economies are usually
- A.
Large, widespread communities that are able to deal effectively with environmental disaster
- B.
Small, close communities that avoid change and new technology
- 4.An economy in which only the government makes economic decisions is a
- A.
Traditional economy
- B.
Centrally planned economy
- 5.Pure market economies always
- A.
Base economic decisions on exchange, or trade
- B.
Divide work along gender lines
Questions: 10 | Attempts: 18339 | Last updated: Jun 15, 2020
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Sample Question"Inflation increases the average level of prices". What does this statement refers to? 1. The price of commodities exceeds income 2. In real terms, the Money supply grows at a higher rate than the Gross Domestic ProductSelect the correct answer
Questions: 27 | Attempts: 13720 | Last updated: Mar 22, 2021
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Sample QuestionWhat is the financial gain made in transactions?
Questions: 52 | Attempts: 13485 | Last updated: Dec 18, 2020
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Sample QuestionRIBO regulations stipulate that a broker must provide a policy or certificate of insurance to an insured within a certain period of time. What is the length of that period?
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