History Of Economics

4 Questions | Total Attempts: 159

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Economics Quizzes & Trivia

This short quiz serves as a test if you really understand the topic cause the answers in each question will be found in this chapter.


Questions and Answers
  • 1. 
    What is the social science that studies the production, distribution, and consumption of goods and services?
    • A. 

      History

    • B. 

      Economics

    • C. 

      Geography

  • 2. 
    A definition that captures much of modern economics is that of ____________ in a 1932 essay: "the science which studies human behavior as a relationship between ends and scarce means which have alternative uses."
  • 3. 
    This means that available resources are insufficient to satisfy all wants and needs. What is this?
    • A. 

      Incentives

    • B. 

      Absent scarcity

    • C. 

      Scarcity

  • 4. 
    Who attempted to explain in broad theoretical detail why high labor-market unemployment might not be self-correcting due to low "effective demand" and why even price flexibility and monetary policy might be unavailing?
    • A. 

      Karl Marx

    • B. 

      John Maynard Keynes

    • C. 

      Adam Smith