Top 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.

Economics Questions and Answers

For most people, the largest protion of their personal income comes from:

Rent paid to them on their property

Interest on stocks and bonds

Wages and salries from their jobs

The federal and state governments.

Economics question from

Principles of Economics Pretest

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When a person rents an apartment, who benefits from the transaction?

Only the landlord

Both the renter and the landlord

Mortgage companies

Only the person renting the apartment

Economics question from

Principles of Economics Pretest

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When deciding which of two items to purchase, you should always:

Choose after comparing costs and benefits of both items

Choose the item that costs less

Chosse the item with the greatest benefits

Choose the item that you want

Economics question from

Principles of Economics Pretest

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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

Economics question from

Principles of Economics QUIZ #1

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The opportunity cost of going to college is

the total spent on food, clothing, books, transportation, tuition, lodging, and other expenses.

the value of the best opportunity a student gives up to attend college.

zero for students who are fortunate enough to have all of their college expenses paid by someone else.

zero, since a college education will allow a student to earn a larger income after graduation.

none of the above

Economics question from

Principles of Economics QUIZ #1

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The opportunity cost of an item is

what you give up to get that item.

the dollar value of the item.

usually less than the dollar value of the item.

the number of hours needed to earn money to buy the item.

none of the above

Economics question from

Principles of Economics QUIZ #1

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What is Economics?

The study of how people try to satisfy what appears to be seemingly unlimited and competing 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

Economics question from

What's your economic IQ?

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What is Scarcity?

Giving something up to have something else

extra cost of producing one additional unit of production

The condition that results from society not having enough resources to produce all the things people would like to have

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

Economics question from

What's your economic IQ?

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What are the three basic economic questions?

What, where, whom

What, how, whom

How, whom, when

What, why, whom

Economics question from

What's your economic IQ?

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Who made the use of energy requirements (calorie) as a measure of poverty in India the first time?

Dandekar and Rath

Amartya Sen

T.N. Srinivasan

None of these

Economics question from

Quiz on Economic and Social Development: Set 15

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What is the fastest increasing component of the Central Government expenditure?

interest payment

subsidies

defence

None of these

Economics question from

Quiz on Economic and Social Development: Set 15

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What does 'Brown Agenda' refers to?

The well-being of present generation, mainly in urban slums

The need to safeguard the earth for future generation

Concern for environment

None of these

Economics question from

Quiz on Economic and Social Development: Set 15

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