Economics Quizzes, Questions & Answers

Recent Quizzes

Are you about to sit for your first-semester examination for your Economics final? The quiz below is made upon fifty questions and is considered one of the hardest trivia quizzes there is on economics. Give it a try and know that...

Questions: 50 | Attempts: 1493 | Last updated: May 13, 2024

Sample Question
Which is not a "factor of production"?

Land

Labor

Capital

Opportunity Cost

Economics Chapter 8 - 11

fun quiz of economics. makes us love learning about economics. so much fun.

Questions: 12 | Attempts: 169 | Last updated: Oct 17, 2024

Sample Question
Choose the matching definitions to the 4 characters of monopoly A) Single Seller B) Price Taker C) No Close Substitution D) Blocked Entry

Control total quantity over price

No competition

One sole producer or seller

Unique product

Economics Midterm Study Guide

This Economics Midterm Study Guide explores fundamental economic concepts including scarcity, macroeconomics, and microeconomics. It delves into models, opportunity costs, and production possibilities, equipping learners with...

Questions: 45 | Attempts: 272 | Last updated: Mar 21, 2023

Sample Question
Economics

Studies human behavior when scarcity exists and choices must be made

Provides the only reasonable explanation of how people make decisions

Is better at showing the way things ought to be than the other social sciences are

Is the only social science that can explain the existence and behavior of public institutions

Basic Economics Quiz For Beginners!

Basic Economics Quiz for Beginners!

Are you a beginner when it comes to economics? Have you just covered chapters one to five in ECO 401 class? If your answer was a yes, then the quiz below is designed to test out just how much information you have when it comes to...

Questions: 8 | Attempts: 1773 | Last updated: Apr 3, 2024

Sample Question
Which is not correct for product Market

Goods purchased by the household sector

Goods purchased by government and foreign sectors

Exchange of raw materials

Exchange consumer goods

Economics Practice Test - Units 3 & 4

This Economics Practice Test for Units 3 & 4 assesses understanding of market structures, price elasticity, supply reactions, and corporate structures. It's designed to enhance learners' grasp of key economic principles and...

Questions: 9 | Attempts: 111 | Last updated: Feb 22, 2024

Sample Question
Monopolistic competition is characterized by:

A few firms and low barriers to entry

Large number of firms and many barriers

Large number of firms and low barriers

Few firms and many barriers

Mrs. Jablonski: Economics & Government Quiz

This quiz by Mrs. Jablonski covers fundamental concepts of Economics and Government, exploring economic systems, questions, trade barriers, and specialization.

Questions: 14 | Attempts: 131 | Last updated: Apr 24, 2024

Sample Question
What is economics?

The study of money in every country in the world

A system of production, distribution, consumption, and exchange of goods and services

The way that people spend and save the money that they earn at their jobs

Buying and selling in the global market place

Needs & Wants

This quiz explores the basic economic concepts of needs and wants, differentiating between essential requirements and desires, and includes questions on economic resources and services.

Questions: 6 | Attempts: 4030 | Last updated: Oct 16, 2024

Sample Question
Things that are required in order to live are known as ....?

Wants

Needs

Goods

Services

Econ Review Part 3

This quiz, titled 'Econ Review Part 3', tests understanding of price elasticity concepts in microeconomics, featuring calculations and theory-based questions.

Questions: 18 | Attempts: 834 | Last updated: Mar 22, 2023

Sample Question
If the price of a hotel room increases from $70 to $85 and the number of rooms booked decreases from 200 to 150, what would the price elasticity of demand equal? (absolute value)

0.68

0.91

1.10

1.48

None of the above

Econ Review

This Econ Review quiz assesses understanding of comparative and absolute advantages in economics through practical examples involving individual and country-level production efficiencies.

Questions: 60 | Attempts: 332 | Last updated: Mar 15, 2023

Sample Question
Michelle and Patrick plan on completing a painting project at home. However, their skills are not equal. Michelle can paint one wall in 20 minutes and she can 'cut-in' or edge one wall in 10 minutes. Patrick can paint one wall in 60 minutes and he can edge one wall in 20 minutes. Which person has the comparative advantage in each task?

Michelle has the comparative advantage in both tasks.

Michelle has the comparative advantage in painting and Patrick has the comparative advantage in edging.

Michelle has the comparative advantage in edging and Patrick has the comparative advantage in painting.

Patrick has the comparative advantage in both tasks.

Study Quiz For Economics

study quiz for economics

Just to study. I have a huge exam coming up...

Questions: 41 | Attempts: 222 | Last updated: Mar 22, 2023

Sample Question
A rise in the general price level resulting from an excess of total spending (demand)

Demand-pull inflation

Cost-push inflation

Inflation

Deflation

Disinflation

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