Economics Quizzes, Questions & Answers

Are you looking for some good economics practice questions and answers? If so, you have reached the right platform. Take these economics trivia quizzes and test your understanding of economics. Read More

Top Trending Quizzes

Economics Practice Test Questions And Answers

Hey, do you think yourself an economics expert? If yes, then here's a challenge for you. Take this Economics practice test quiz and see if you can score more than 80% on it. Economics is a very interesting subject. It helps...

Questions: 20 | Attempts: 44124 | Last updated: Aug 18, 2024

Sample Question
What is the financial gain made in transactions?

Profit

Resource

Scarcity

Wage

Which School Of Economic Thought Do You Belong To?

Dive into the diverse world of economic ideologies with our "Which School of Economic Thought Do You Belong To?" quiz. Economics isn't just about numbers; it's a realm of contrasting theories and philosophies...

Questions: 10 | Attempts: 9099 | Last updated: Nov 16, 2023

Sample Question
The economy is made up of

Classes.

Individuals.

Individuals and Institutions.

Ribo License Practice Exam Quiz: Questions

Take our RIBO license practice exam quiz with the questions provided below in order to excel at being the most knowledgeable in your field. RIBO is a self-governing, self-supporting organization of insurance brokers who practice...

Questions: 10 | Attempts: 31980 | Last updated: Dec 13, 2024

Sample Question
What is NOT a fiduciary?

A person who makes good the obligations to the Obligee if the principal fails to do so.

An executor of an estate.

A trustee in bankruptcy.

A person to whom the administration of something is entrusted for the benefit of another.

Economics Unit 1 Practice Test!

Looking for a helpful Economics unit 1 practice test? Here is a quiz for you. The study of economics covers the topic of finance and the many ways in which it can be distributed, with the production, transport, and consumption of...

Questions: 25 | Attempts: 8237 | Last updated: Jun 17, 2024

Sample Question
What does the term capital mean?

Money that is spent by companies to produce goods

Resources that are made and used to make other good and services

The place where the company is located

None of these

Economics Exam MCQ Trivia: Quiz!

This Economics Exam MCQ Trivia quiz explores health economics, definitions of health by WHO, and attributes of optimal health. It assesses understanding of health dimensions and the mismatch of health concepts, enhancing...

Questions: 25 | Attempts: 1750 | Last updated: Jun 21, 2024

Sample Question
Economics is considered with:

Costs ( resource use )

Limited resources

Unlimited wants

Choosing between Which ”Wants” we can afford given our resource budget

Popular Quizzes

Demand & Supply

This quiz covers the basics of demand & supply. All questions come from your Introduction to Demand, Introduction to Supply, and Determining Price Notes. You will have 1 minute to answer each question.

Questions: 10 | Attempts: 18443 | Last updated: Oct 28, 2024

Sample Question
Which of the following is not a component of demand?

Desire

Surplus

Ability

Willingness

Principles Of Economics Questions!

Principles of Economics Questions!

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 ensures we understand the factors affecting the...

Questions: 9 | Attempts: 13887 | Last updated: Feb 22, 2024

Sample Question
The phenomenon of scarcity stems from the fact that...

Most economies’ production methods are not very good.

In most economies, wealthy people consume disproportionate quantities of goods and services.

Governments restricts production of too many goods and services.

Resources are limited.

People are greedy

An Advance Level Test: What's Your Economic IQ?

What is your economic IQ? The economy is based on what a country's growth in various aspects of the life of the population depends on. Do you know enough about economics? Well, if you think you have a strong IQ in this field,...

Questions: 72 | Attempts: 12719 | Last updated: Feb 15, 2024

Sample Question
What is Economics?

The study of how people try to satisfy what appears to be seemingly unlimited and competing for wants through the careful use of relatively scarce resources

Employment, gross domestic product, inflation, economic growth, and the distribution of income

Deals with behavior and decision making by small units, such as individuals and firms

A rise in the general level of prices occurs, workers need more money to pay for good clothing and shelter

Law Of Demand Quiz Questions With Answers

law of demand quiz questions with answers

Looking for the law of demand practice quiz questions with answers? You have reached the right place. Take this quiz and test your knowledge regarding demand-supply. Law of demand is a basic principle of economics. This quiz is...

Questions: 10 | Attempts: 12610 | Last updated: Aug 21, 2023

Sample Question
According to ____________, when price decreases, demand rises, and when price increases, demand falls.

The Law of Diminishing Marginal Utility

Adam Smith

The Law of Demand

The elasticity of demand

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