Basic Economics Quiz: Exam!

10 Questions

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Economics Quizzes & Trivia

Questions and Answers
  • 1. 
    Man get it free in natural form:
    • A. 

      Economics

    • B. 

      Free goods

    • C. 

      Economic goods

    • D. 

      Scarcity

  • 2. 
    The things that have value or price:
    • A. 

      Economics

    • B. 

      Free goods

    • C. 

      Economic goods

    • D. 

      Scarcity

  • 3. 
    It is the study of production, consumption, and distribution of goods and services.
    • A. 

      Economics

    • B. 

      Free goods

    • C. 

      Economic goods

    • D. 

      Scarcity

  • 4. 
    It is the study of the behavior of the entire economy.
    • A. 

      Economics

    • B. 

      Microeconomics

    • C. 

      Macroeconomics

    • D. 

      Scarcity

  • 5. 
    It is the study of the small unit of the economy.
    • A. 

      Economics

    • B. 

      Microeconomics

    • C. 

      Macroeconomics

    • D. 

      Scarcity

  • 6. 
    He discovered the Law of Diminishing Marginal Returns.
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Thomas Robert Malthus

    • D. 

      Karl Marx

  • 7. 
    He is the father of communism.
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Thomas Robert Malthus

    • D. 

      Karl Marx

  • 8. 
    He is the father of modern economics.
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Thomas Robert Malthus

    • D. 

      John Maynard Keynes

  • 9. 
    He explained the law of supply and demand.
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Thomas Robert Malthus

    • D. 

      John Maynard Keynes

  • 10. 
    His theory is known as the Malthusian Theory.
    • A. 

      Adam Smith

    • B. 

      David Ricardo

    • C. 

      Thomas Robert Malthus

    • D. 

      John Maynard Keynes