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Econ Quizzes & Trivia

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Economics is a social science that explores the dynamics of a market involving consumers and the consumption of goods and services. Take the quiz below to learn about monopoly of markets and perfect competition.

Questions: 39  |  Attempts: 526   |  Last updated: Mar 30, 2018
  • Sample Question
    Assume the market for organic produce sold at farmers markets is perfectly competitive. All else equal,as equilibrium price of the produce and sell organic produce at farmers' markets, what is likely to happen to the equilibrium price of the produce and profits of the organic farmers in the long run?


Questions: 70  |  Attempts: 1530   |  Last updated: Apr 30, 2012
  • Sample Question
         1.   Market failure is a situation in which

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: 1003   |  Last updated: May 4, 2021
  • Sample Question
         1.   Two major exports for the United States are


Questions: 60  |  Attempts: 1183   |  Last updated: Apr 30, 2012
  • Sample Question
         1.   The diamond-water paradox is the observation that

In Economics, we believe that utility is the amount of satisfaction that a good or service brings. The quiz below tests and advances your knowledge on the different aspects of economics, which include price and utility.

Questions: 39  |  Attempts: 85   |  Last updated: Mar 8, 2018
  • Sample Question
    The difference between the highest price a consumer is willing to pay for a good and the price the consumer actually pays is called
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