Economic Problems Trivia Questions!

3 Questions | Total Attempts: 189

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Economics Quizzes & Trivia

The social science of economy looks at how we analyze the production, distribution and subsequent consumption of goods and services, but things aren’t always on the uptick when it comes to money and business. In the following quiz, we’re going to see just how much you know about the problems that can arise within the study of the economy and how they can be resolved. Good luck!


Questions and Answers
  • 1. 
    A problem of choice arises because of
    • A. 

      Unlimited wants

    • B. 

      Limited resources

    • C. 

      Resources have alternate uses

    • D. 

      All of the above

  • 2. 
    Economic problems are faced by
    • A. 

      Consumers

    • B. 

      Producers

    • C. 

      Both consumers and producers

    • D. 

      None of the above

  • 3. 
    Opportunity cost means
    • A. 

      Any alternative foregone when a choice is made.

    • B. 

      The next best alternative foregone when a choice is made.

    • C. 

      All alternatives foregone when a choice is made.

    • D. 

      None of the above.