Income Quizzes & Trivia

A comprehensive database of income quizzes online, test your knowledge with income quiz questions. Our online income trivia quizzes can be adapted to suit your requirements for taking some of the top income quizzes.


The circular flow of income is a model established to show the "flow" of income in and out of a country. The circular flow diagram was conveniently established to show this flow in a more constructed manner. Test your...

Questions: 10  |  Attempts: 100   |  Last updated: Jun 27, 2019
  • Sample Question
    Firms in the economy produce goods/services by using inputs like

If you know about the economy, then you'd definitely know the circular flow of income. It's not a recent occurrence though as this theory has been there for years. Are you as knowledgeable about this topic as you think,...

Questions: 10  |  Attempts: 100   |  Last updated: Jun 27, 2019
  • Sample Question
    Who brought up this theory?

If you pretend to be knowledgeable about economics, then you would know about the circular flow of income. This is a diagram that shows how income comes in and goes out either on the household scale, the government scale, or the...

Questions: 10  |  Attempts: 100   |  Last updated: Jun 27, 2019
  • Sample Question
    How many models of the circular flow of income exist?

If you were ever attentive in your economics class, then you'd know what a circular flow of income is. We know how hard it is to study sometimes. So use this fun quiz to pass time and to refresh your memory as well.  

Questions: 10  |  Attempts: 100   |  Last updated: Jun 27, 2019
  • Sample Question
    The two primary players in the circular flow model are

As the name implies, the circular flow of income is a chart like structure which represents the income of a household, a city, or even a whole country. As its name implies, it looks like a circle. Let's test your knowledge on...

Questions: 10  |  Attempts: 100   |  Last updated: Jun 27, 2019
  • Sample Question
    The flows of money and services run in….




Income Questions & Answers


What is the difference between Wage and Income?
Wage and income are not totally referring to the same thing, but they are interrelated. Wage simply means the amount of money paid to someone for a specified quantity of work. Wages can come in different ways. There are some you get on a monthly basi
What is the difference between Hicks and Slutsky?
Hicks and Slutsky may be confusing to people who have never tried to know more about microeconomics. If by any chance that you need to know more about this now, you should know that HIcks is the method that will be used when the consumer would need t
Which capital maintenance concept is applied to currently reported net income, and which is applied to comprehensive income under the conceptual framework of FASB?
1. currently reported net income= financial capital - comprehensive income = financial capital-the financial capital maintenance concept is the traditional basis of financial statements as well as the full set of financial statements, including compr
What is the time limit for Extended Business Income coverage under the BOP?A. 30 daysB. 45 daysC. 60 daysD. 90 days
30 daysA is correct. Extended Business Income coverage begins after the insureds operations are resumed and continues until the insured is restored to the previous earning condition or for 30 consecutive days (unless a different length of time is spe
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