Trivia Quiz: Economics Basic Knowledge! Test

10 Questions | Total Attempts: 68

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Trivia Quiz: Economics Basic Knowledge! Test

Do you have basic knowledge of economics, and do you think you can pass this quiz? When it comes to economics, everyone should know that there are two kinds of economics: macroeconomics and microeconomics. A significant factor is the law of supply and demand. Services are done for customers, and income is what you earn. This quiz is all about economics, so put your basic knowledge to the test.


Questions and Answers
  • 1. 
    Study of money and how people use their money.
    • A. 

      Wants

    • B. 

      Economics

    • C. 

      Needs

  • 2. 
    Things that a consumer needs to stay alive.
    • A. 

      Needs

    • B. 

      Trading

    • C. 

      Goods

  • 3. 
    Things that are done for consumers.
    • A. 

      Services

    • B. 

      Trading

    • C. 

      Opportunity cost

  • 4. 
    Money that people earn from their job.
    • A. 

      Encomomics

    • B. 

      Producer

    • C. 

      Income

  • 5. 
    Things that make life easier and more fun.
    • A. 

      Services

    • B. 

      Wants

    • C. 

      Cost

  • 6. 
    Objects that consumers buy to hold and touch.
    • A. 

      Goods

    • B. 

      Scarcity

    • C. 

      Natural resources

  • 7. 
    Everyone who spends money to buy goods and services.
    • A. 

      Producer

    • B. 

      Consumer

    • C. 

      Manufacturer

  • 8. 
    A person who makes a good or produces a service.
    • A. 

      Producer

    • B. 

      Consumer

    • C. 

      Economics

  • 9. 
    A limited supply of a good.
    • A. 

      Scarcity

    • B. 

      Wants

    • C. 

      Goods

  • 10. 
    Amount of money you need to buy a good or service.
    • A. 

      Needs

    • B. 

      Trading

    • C. 

      Price

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