Econ Quizzes, Questions & Answers

Are you ready to test your economic savvy and have some fun while doing it? Look no further than Econ Quizzes and Trivia! Dive into the fascinating world of economics with our engaging and interactive quizzes that cover a wide range of topics, from microeconomics to global financial markets. Econ Quizzes are not just your ordinary trivia challenges. Read More

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Econ Chapter 31

This quiz titled 'Econ Chapter 31' assesses understanding of market failures, externalities, and their social impacts. It covers key economic concepts crucial for grasping how markets operate and the implications of their...

Questions: 70 | Attempts: 1720 | Last updated: Mar 21, 2023

Sample Question
1. Market failure is a situation in which

The market does not provide the ideal or optimal amount of a particular good.

There are too many buyers but not enough sellers.

Prices are too high for "average" people to buy necessities.

There is a question over the quality of a product for sale.

Your Go-to Economics Quiz!

Economics is the social science that studies how people interact with value; in particular, the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic...

Questions: 81 | Attempts: 1131 | Last updated: Mar 17, 2023

Sample Question
1. Two major exports for the United States are

Clothing and office machines.

Soybeans and scientific instruments.

Footwear and fish.

Coffee and diamonds.

None of the above

Econ Exam 1 (Non-graph Questions)

Econ Exam 1 assesses understanding of economic principles without graphs. It includes scenarios on tax impacts, opportunity costs, market dynamics, competitive markets, supply changes due to natural events, and consumer behavior...

Questions: 21 | Attempts: 315 | Last updated: Mar 21, 2023

Sample Question
Senator Smith wants to increase taxes on people with high incomes & use it to help the poor. Senator john argues this would discourage successful people from working & make society worse off. An economist would say:

Agree with senator smith

A good decision requires both viewpoints

We should agree with senator Jones

There are no tradeoffs between equity and efficiency

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Econ Chapter 21

The Econ Chapter 21 quiz assesses understanding of key economic concepts like the diamond-water paradox, utility, and marginal utility. It explores how value is perceived and measured in economics, enhancing learners' grasp of...

Questions: 60 | Attempts: 1366 | Last updated: Mar 20, 2023

Sample Question
1. The diamond-water paradox is the observation that

Those things that have the greatest price often have little value in exchange and those things that have the lowest price often have the greatest value in exchange.

Those things that have the greatest value in use often have little value in exchange and those things that have little value in use often have the greatest value in exchange.

Those things that have the least value in use often have little value in exchange and those things that have the greatest value in use often have the greatest value in exchange.

Those things that have the least price often have little value in exchange and those things that have the greatest price often have the greatest value in exchange.

Econ Quizzes, Questions & Answers

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