Economics Quizzes & Trivia

The demand for quizzes is rapidly growing and yet there is not enough supply yet. We have to solve this issue quickly if we are to increase our profits and gain a huge market share. Competition is becoming increasingly stiff and we have to optimize production and resource allocation in order to increase our sales. You have been appointed as the new manager of this branch and it is your job to put it back on its feet. There are many questions left unanswered and you have to deal with them first.

What was the country whose economy occupied the first position in a list by incremental GDP between 2000 and 2010? Microeconomics analyzes how entities interact within a market to create what? Time to apply all your knowledge on economics.

This is the ultimate economy knowledge quiz. The economy is based on what a country's growth in various aspects of the life of the population depends. Do you know enough about economics? Well, if you think you have a strong...

Questions: 72  |  Attempts: 7394   |  Last updated: Mar 23, 2020
  • Sample Question
    What is Economics?

Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. One of how we get to ensure that the company we set up is ensuring we understand the factors affecting...

Questions: 9  |  Attempts: 5651   |  Last updated: Nov 26, 2019
  • Sample Question
    The phenomenon of scarcity stems from the fact that

This test is based on the ACEE's survey that produced the most common misconceptions concerning economics. By the end of the course, students will understand all the concepts touched on here. Read the following questions...

Questions: 19  |  Attempts: 5603   |  Last updated: Feb 7, 2019
  • Sample Question
    For most people, the largest protion of their personal income comes from:

Different factors affect the economic status of a country or individual, and one of the most common is the political environment and inflation as a whole. Over the past few weeks, we have covered much about economic and social...

Questions: 10  |  Attempts: 3750   |  Last updated: Jun 4, 2019
  • Sample Question
    "Inflation increases the average level of prices". What does this statement refers to? 1. The price of commodities exceeds income 2. In real terms, the Money supply grows at a higher rate than the Gross Domestic ProductSelect the correct answer

Human wants are unlimited, but the resources used to meet them are scarce. This, therefore, means that organizations and governments need to know how to use these resources and meet human wants. Economics gives us an idea of how...

Questions: 27  |  Attempts: 3524   |  Last updated: Nov 19, 2019
  • Sample Question
    What is the financial gain made in transactions? 

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Economics Questions & Answers

What is the classic example of a PPF?
What does PPF mean? This is the acronym for Production Possibility Frontier. A classic example of this is letter B. The mythical country is called Alpha and it has the chance to produce two goods which are bread and butter. These are two items that m
What causes the demand curve to shift?
The increase/decrease in price may not necessarily be resulting to the shift of the demand curve. The best answer is the increase/decrease in need. Because, as the need of the product increases/decreases people would not care on the price. Say, there