Econ Quizzes & Trivia

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Questions: 70 | Attempts: 1657 | Last updated: Mar 21, 2022

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.

Questions: 60 | Attempts: 1324 | Last updated: Mar 20, 2022

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.

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: 1080 | Last updated: Mar 17, 2022

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)

Ch. 1-7, 9

Questions: 21 | Attempts: 282 | Last updated: Mar 21, 2022

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

Econ Final Part 2

Econ test 2

Questions: 60 | Attempts: 60 | Last updated: Mar 21, 2022

Sample Question
Of the four factors that influence asset demand, which factor will cause the demand for all assets to increase when it increases, everything else held constant?

Liquidity

Risk

Wealth

Expected Returns

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