Economics Quizzes & Trivia

Curious and eager to learn new trivia about life, the universe, and everything? If yes, what better way to take some awesome Economics quizzes online? Test yourself and share these Economics quizzes to find out who is the quiz champ!

Enhance your knowledge about a topic or learn something completely new by answering ultimate Economics quiz questions.

Each and every Economics quiz that we have is made up of well-researched and interesting quiz questions. With detailed instant feedback for quiz answers, you can easily learn something new about Economics with every question you attempt.

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? 

GDP, levels of employment, life expectancy and literacy are indicators that measure socio-economic development. This test is taken up by Countries so that they see how well they are doing as compared to the standards they put for...

Questions: 10  |  Attempts: 2600   |  Last updated: Jul 10, 2019
  • Sample Question
    Why is direct taxation considered a better form of taxation?

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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