Microeconomics Quizzes & Trivia

Our newest quiz is about that part of economics that studies the behavior of individuals and small players on the market. If you’ve studied it in college then there is no way you cannot get to the bottom of it. Our questions will not be impossible to answer but you will need to remember some of those things that you learned about in those years.

Here are some of the questions we’ve got in store for you: To what types of markets does microeconomics usually apply? The theory of supply and demand usually assumes that the markets are perfectly what? The measurement of how responsive an economic variable is to a change in another variable is called what? Show us your microeconomics skills and make it to first place.
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The PPC or production possibility curve/ frontier is a presumptive depiction of the different conceivable combinations of two goods that can be produced within the given available resource. This quiz has around twelve questions...

Questions: 12  |  Attempts: 9829   |  Last updated: Sep 28, 2020
  • Sample Question
    Which of the following best describes the three fundamental economic questions?

If you are an economics student, then you must know that economics is all about supply, demand, and maximizing income, be it in a business or a country. Have you been having a hard time revising for your microeconomics course...

Questions: 10  |  Attempts: 27730   |  Last updated: Jun 24, 2020
  • Sample Question
    What Microeconomics is about?

Microeconomics Quiz: Elasticity & Its Application. Demand and supply are what holds a market, and elasticity is the measure through which variable changes as a result of another variable. Demand can either be elastic or...

Questions: 26  |  Attempts: 4278   |  Last updated: Dec 15, 2020
  • Sample Question
    If the quantity demanded of a good is sensitive to a change in the price of that good, demand is said to be price inelastic. 

In the study of business and microeconomics, you’ll come across the terms “supply and demand” fairly often. It’s the concept by which we judge how much of a particular good or service the market can...

Questions: 35  |  Attempts: 2253   |  Last updated: Aug 21, 2020
  • Sample Question
    A perfectly competitive market consists of products that are all slightly different from one another

Questions: 52  |  Attempts: 1362   |  Last updated: Aug 25, 2020
  • Sample Question
    A number of years ago, a company that is now out of business disposed of its chemical waste products by spraying them on the ground. It will take the EPA millions of dollars to clean up this site. This situation is an example of an externality. 

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Microeconomics is a division of economics that studies individuals' and firms' behavior in making decisions regarding the distribution of scarce resources and the interactions among these entities and corporations. The...

Question:   |  Attempts: 10165   |  Last updated: May 25, 2021

Human beings' wants are unlimited, and the resources required to meet them are most often scarce. Understanding how to allocate the limited resources to meet the unlimited desires of a firm or an individual forms the basis of...

Question:   |  Attempts: 2637   |  Last updated: Apr 12, 2021

Do you know anything about microeconomics, and do you think you can pass this quiz? Microeconomics is a branch of economics that studies people's behavior in making decisions concerning the distribution of scarce resources...

Question:   |  Attempts: 125   |  Last updated: Feb 25, 2021

Most commonly used with regards to business, the term “microeconomics” refers to how humans behave and interact with one another. This study is often harnessed and effectively used to analyze how firms and...

Question:   |  Attempts: 91   |  Last updated: Jan 8, 2021

Taxation affects most of us and each citizen with an income is taxed in most countries. In our microeconomics class we got to understand much about the cost of taxation. How attentive have you been these past few chapters, do...

Question:   |  Attempts: 1149   |  Last updated: Jan 8, 2021

This is an introduction to microeconomics quiz. The study of microeconomics is a branch of economics. It's the study of how we produce, distribute, and consume goods and services, but the difference is that microeconomics...

Question:   |  Attempts: 1869   |  Last updated: Dec 18, 2020

A Consumer Choice In Microeconomics Quiz; Microeconomics is a branch of economics that looks at how to allocate resources that are scarcer than others. It forces a firm or individual to think strategically and efficiently so that...

Question:   |  Attempts: 1317   |  Last updated: Dec 18, 2020

Enhance your knowledge of microeconomics with this quiz! There are certain topics in this world that you may not know or may never have any intention of knowing about, but one thing that everybody should have a foundation level...

Question:   |  Attempts: 869   |  Last updated: Dec 18, 2020

Test your knowledge of microeconomics with this quiz! Every little piece of information helps, and if you’re having a little bit of difficulty allowing your studies in the field of microeconomics to stick, perhaps the...

Question:   |  Attempts: 295   |  Last updated: Dec 18, 2020

This is a knowledge quiz about monopoly in microeconomics. You might only know about the word “monopoly” from the popular boardgame which is famous for making families and friends question their loyalty to one...

Question:   |  Attempts: 615   |  Last updated: Dec 18, 2020

Welcome to the Microeconomics 101 Part II Quiz. You can be a complete novice or the most experience person in a particular field of work or study, and a helpful quiz on that topic will still benefit you, whether it’s...

Question:   |  Attempts: 212   |  Last updated: Dec 18, 2020

This is an advanced level microeconomics quiz. If you’re a novice when it comes to microeconomics, then this quiz might be too tough of a task for somebody of your skill level. We’re confident in this one that only...

Question:   |  Attempts: 298   |  Last updated: Dec 18, 2020


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Welcome to The Ultimate Microeconomics Knowledge Test Part II. The following quiz takes a unique approach to microeconomics, as we take a look at some of the more unconventional methods for how a firm or individual might be able...

Question:   |  Attempts: 263   |  Last updated: Dec 18, 2020

Even the smartest people out there in the field of economics have difficulty figuring out how to allocate scarce resources, and that’s because they look too hard at the big picture and don’t focus in on the fine...

Question:   |  Attempts: 161   |  Last updated: Dec 18, 2020

Welcome one, welcome all to the ultimate test in microeconomics – the study that talks economics, which looks at the production, distribution and consumption of goods and services, and fine-tunes it so that we can look at...

Question:   |  Attempts: 87   |  Last updated: Dec 18, 2020

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Question:   |  Attempts: 275   |  Last updated: Dec 18, 2020

Supply, Demand, and Government Policies

Question:   |  Attempts: 429   |  Last updated: Dec 18, 2020

The Costs of Production

Question:   |  Attempts: 71   |  Last updated: Dec 18, 2020