Econ Quizzes & Trivia

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What better way to test your knowledge of the ins and outs of Econ than awesome Econ quizzes? Test yourself and share these Econ quizzes with your friends and peers. Enhance your knowledge about Econ and learn something completely new by answering these insightful quiz questions. You can even get insights into creating awesome quizzes of your own with these Econ quizzes.

Each and every Econ quiz here has well-researched and interesting quiz questions that test your grasp of the subject. You can easily learn something new about Econ with every question you attempt.

Econ Chapter 21

Questions: 60 | Attempts: 282 | Last updated: Apr 30, 2012

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 Chapter 31

Questions: 70 | Attempts: 220 | Last updated: Apr 30, 2012

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.

Econ Chapter 34

Questions: 81 | Attempts: 194 | Last updated: Apr 30, 2012

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 122 Exam 3

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: 148 | 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?

The equilibrium price is likely to increase and profits are likely to remain unchanged.

The equilibrium price is likely to decrease and profits are likely to decrease.

The equilibrium price is likely to remain unchanged and profits are likely to increase.

The equilibrium price is likely to increase and profits are likely to increase.

Econ Chapter 35

Questions: 44 | Attempts: 122 | Last updated: Feb 15, 2013

Sample Question
1. The "balance of payments" is a periodic statement of the

Assets and liabilities of a firm.

Money value of all transactions between producers and consumers.

Money value of all transactions between residents of one country and residents of another country.

Price of one currency-for example, the U.S. dollar-in terms of all other currencies.

Cognos Quizzes

Chopard Quizzes

Corporate Governance Quizzes

Cyberthink Quizzes

Econ Questions & Answers

Which of the two curves, X or Y, represents marginal social benefits and why? This graph represents a positive externality situation.

Curve Y, because if there is a positive externality, external benefits are associated with it: social benefits = external benefits + private benefits, therefore the marginal social benefit curve must lie above the marginal private benefit curve.

What is Point N in the given diagram? I1, I2 and I3 are indifference curves and line ab is the relevant budget constraint.

Attainable, but does not exhaust the consumer s income.

What will be the equilibrium exchange rate? Suppose the current exchange rate between the U.S. dollar and the Mexican peso is $0.12 = 1 peso. Furthermore, suppose the price level in Mexico rises 25...

$0.096 = 1 peso

What does a plus sign represent here? The dollar amounts in the U.S. balance of payments have plus (+) or minus (-) signs in front of them.

Foreign demand for U.S. dollars and the supply of foreign currencies.