Microeconomics Quizzes, Questions & Answers

All Grades

Demand and Supply Quizzes

Law Of Demand (5) Law Of Supply (5) Market Equilibrium (13) Shifts and Movements (5) Determinants Of Demand (5) Determinants Of Supply (5)

Microeconomics Knowledge Test! Practice Quiz! Trivia

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...

Questions: 10 | Attempts: 37058 | Last updated: Sep 09, 2025

Sample Question
What Microeconomics is about?

Study of Business Environment.

Study of financial position of the economy.

Study of the Economy at Micro Level.

None of the above.

Demand & Supply

This quiz covers the basics of demand & supply. All questions come from your Introduction to Demand, Introduction to Supply, and Determining Price Notes. You will have 1 minute...

Questions: 10 | Attempts: 19090 | Last updated: Oct 22, 2025

Sample Question
Which of the following is not a component of demand?

Desire

Surplus

Ability

Willingness

Economics Quiz: Test on Microeconomics! Trivia

Microeconomics is a division of economics that studies individuals' and firms' behavior in making decisions regarding the distribution of scarce resources and the interacti...

Questions: 10 | Attempts: 11428 | Last updated: Mar 21, 2025

Sample Question
If the demand curve for good X is downward-sloping, an increase in the price will result in

An increase in the demand for good X.

A decrease in the demand for good X.

No change in the quantity demanded for good X.

A larger quantity demanded for good X.

Consumer Behavior Quizzes

Utility Analysis (5) Indifference Curves (5) Marginal Utility (5) Budget Constraint (5) Consumer Equilibrium (5)

Soal-Soal IPS Ekonomi Kelas X Bab I

This quiz covers basic concepts of economics for 10th-grade social studies, focusing on needs, types of needs, and economic behaviors.

Questions: 20 | Attempts: 6283 | Last updated: Mar 21, 2025

Sample Question
Apa yang dimaksud dengan kebutuhan ?

Kebutuhan adalah suatu keinginan untuk mencapai suatu kemakmuran dengan menggunakan berbagai cara dalam tindakan ekonomi.

Kebutuhan adalah keinginan untuk mennggunakan segala cara untuk mendapatkan barang dan jasa guna mencapai suatu kemakmuran baik itu individu maupun kelompok.

Kebutuhan adalah keinginan untuk memperoleh barang dan jasa untuk mencapai suatu kemakmuran baik itu fisik maupun rohani.

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 serv...

Questions: 6 | Attempts: 4268 | Last updated: Oct 16, 2025

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

Wants

Needs

Goods

Services

Are You A Smart Shopper?

Which is best to buy generic? Can you use that coupon? Where can the best deals be found? As you answer these questions see where you score as a smart shopper! Can you beat the bes...

Questions: 8 | Attempts: 4039 | Last updated: Oct 15, 2025

Sample Question
Which is a good generic buy while at the grocery store?

Cereals

Milk Organic

Pasta

Condiments

Production Theory Quizzes

Production Function (5) Law Of Variable Proportions (5) Returns To Scale (5) Isoquants and Isocosts (5) Producer Equilibrium (5)

Production Possibilities Curve MCQ Quiz Questions And Answers

Do you know about the production possibility curve? To test your knowledge, take this MCQ on Production Possibilities Curve quiz. The PPC or production possibility curve/frontier i...

Questions: 10 | Attempts: 31192 | Last updated: Mar 12, 2025

Sample Question
Which of the following best describes the three fundamental economic questions?

What to produce, when to produce, and where to produce

What time to produce, what place to produce, and how to produce

What to produce, when to produce, and for whom to produce

What to produce, how to produce, and for whom to produce

Factors of Production A

Explore the core elements of production in economics through identifying roles and resources such as labor, entrepreneurship, capital, and land.

Questions: 10 | Attempts: 5576 | Last updated: Oct 06, 2025

Sample Question
Assembly line worker

Land

Labor

Entrepreneurship

Capital

Theory Of Production And Cost

Explore key concepts in economics through the 'Theory of Production and Cost' quiz. This quiz assesses understanding of production elements, cost analysis, and economic factors inf...

Questions: 81 | Attempts: 5376 | Last updated: Aug 22, 2025

Sample Question
Which of the following is considered production in Economics?

Tilling of soil.

Singing a song before friends.

Preventing a child from falling into a manhole on the road.

Painting a picture for pleasure.

Cost Theory Quizzes

Perfect Competition (7) Monopoly Market (15) Monopolistic Competition (5) Oligopoly Models (5) Price Discrimination (5)

Opportunity Cost Economics Quiz

Dive into the fascinating world of economics with our Opportunity Cost Quiz! Delve into the core concept of opportunity cost, where every decision involves sacrificing alternatives...

Questions: 15 | Attempts: 4776 | Last updated: Oct 22, 2025

Sample Question
If a business invests in research and development instead of marketing, the potential increase in sales from marketing is the:

Direct cost

Opportunity cost

Marginal cost

Fixed cost

Can you pass this Basic Economics test? Quiz

Some people want to seek a career in economics but do know much, especially when it comes to the basics of this study. This is an online interactive quiz in Economics meant to test...

Questions: 11 | Attempts: 1100 | Last updated: Mar 20, 2025

Sample Question
1. Which of the following decisions must be made by all economies?

A. How much to produce? When to produce? How much does it cost?

B. What is the price? Who will produce it? Who will consume it?

C. What to produce? How to produce? For whom to produce?

D. none of the above.

average and marginal cost functions quiz

Average cost and marginal cost are two types of costs that we have covered in economics class. It is important for a manufacturer to know how to use these two costs to ensure maxim...

Questions: 18 | Attempts: 1095 | Last updated: Apr 22, 2025

Sample Question
The basic law of demand says that all other things being the same,

The lower the price of a product, the less of it consumers will purchase

The higher the price of a product, the less of it consumers will purchase

The lower the price of a product, the more of it consumers will purchase

The higher the price of a product, the more of it consumers will purchase

Market Structure Quizzes

Market Equilibrium Price (6) Competition and Regulatory Policy (6) Price Ceiling (5) Price Floor (5) Taxes and Subsidies (5)

Circular Flow of a Market Economy! Trivia Quiz

Hey, do you think you have a good understanding of the economy? Can you pass this circular flow of a market economy trivia quiz that is given below? This quiz will test the kn...

Questions: 10 | Attempts: 13425 | Last updated: May 22, 2025

Sample Question
The two primary players in the circular flow model are:

People and Stores

Households and Businesses

Businesses and People

Households and Schools

MCQ On Market Structure

How good is your knowledge of the Market structures? Our MCQ quiz on this topic can help you check how much you know. Can you tell the difference between Oligoplogy and duopoly? Pl...

Questions: 10 | Attempts: 5286 | Last updated: Aug 21, 2025

Sample Question
In a Market structure called 'Monopoly' there will:

One firm

Two firms

Few Firms

Many firms

the principal of circular flow quiz

This is a quiz that will test your knowledge on the principal of circular flow.

Questions: 5 | Attempts: 1913 | Last updated: Aug 16, 2025

Sample Question
Which of the following is part of the circular flow diagram

Education

Resources

Cooperations

Family

Price Determination Quizzes

Labor Market (6) Capital Resource Market (5) Land Market (5) Marginal Productivity Theory (5) Wage Determination (5)

XII Eco Chapter 1 Test

This quiz focuses on fundamental concepts of microeconomics, exploring its nature as a social science, its analytical methods, and key contributors like Marshall and Ragner Frisch.

Questions: 17 | Attempts: 127 | Last updated: Mar 20, 2025

Sample Question
Economics is a ___________ science.

Social

Natural

Political

Anthropological

3105 Marking Up Prices

Marking up a price means increasing it. Retailers buy products at a 'wholesale' price, and then mark it up by a percentage to make a profit. This percentage can vary greatl...

Questions: 40 | Attempts: 52 | Last updated: May 09, 2025

Sample Question
Find the selling price for a pair of shoes with an original price of $130 which has been marked up by 20%.

$156

Elasticity Concepts Quizzes

Price Elasticity (5) Income Elasticity (5) Cross Elasticity (5) Elasticity Of Supply (5) Total Revenue Test (5)

Max and Stassi's elasticity quiz

This qiuz is dessigned to help students understand the basic concept of elasticity and cross elasticity which are part of the concept of micro economics. We were given this assignm...

Questions: 18 | Attempts: 267 | Last updated: Mar 20, 2025

Sample Question
Why did the chicken cross the road?

Because he wanted to.

To get to the other side.

Chuck norris forced him to.

Game Theory Quizzes

Payoff Matrix (5) Nash Equilibrium (5) Prisoners Dilemma (5) Dominant Strategy (5) Mixed Strategy (5)

What do you know Rithmomachy?

The term “Rithmomachy” refers to a complex board game commonly played in the 13th century. The game follows some Mathematical patterns and has remained a keyboard game ...

Questions: 10 | Attempts: 121 | Last updated: Mar 20, 2025

Sample Question
Rithmomachy was usually called which name in the early 12th century?

Numbers game

Battle of Numbers

Number words game

Game of worlds

Game Theory Economics Quiz

Questions: 8 | Attempts: 44 | Last updated: Nov 12, 2025

Sample Question
What is the primary focus of game theory?

Studying economic growth

Analyzing strategic interactions

Understanding market structures

Evaluating consumer behavior

Market Failure Quizzes

Externalities (5) Public Goods (5) Asymmetric Information (5) Common Resources (5) Government Intervention (5)

Welfare Analysis Quizzes

Consumer Surplus (5) Producer Surplus (5) Deadweight Loss (5) Economic Efficiency (5)

Top Trending Microeconomics Quizzes

Economics Unit 1 Practice Test!

Looking for a helpful Economics unit 1 practice test? Here is a quiz for you. The study of economics covers the topic of finance and the many ways in which it can be distributed, with the production, transport, and consumption of...

Questions: 25 | Attempts: 8678 | Last updated: Jun 17, 2025

Sample Question
What does the term capital mean?

Money that is spent by companies to produce goods

Resources that are made and used to make other good and services

The place where the company is located

None of these

Principles Of Economics Questions!

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 ensures we understand the factors affecting the...

Questions: 9 | Attempts: 14217 | Last updated: Feb 22, 2025

Sample Question
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

Profit and Loss- Chapter Wise Test

TEST DESCRIPTION Total No. of Questions = 10 Test Duration = 15 minutes Total Marks = 40 Negative Marking = YES (1 mark will be deducted for each wrong answered question

Questions: 10 | Attempts: 4461 | Last updated: Oct 22, 2025

Sample Question
When a plot is sold for Rs. 18,700, the owner loses 15%. At what price must that plot be sold in order to gain 15%?

Rs. 21,000

Rs. 22,500

Rs. 25,300

Rs. 25,800

Production and Factor Market

Explore key economic concepts through the 'PRODUCTION and FACTOR MARKET' quiz. Assess your understanding of market periods, capital types, production functions, and the role of substitutability in economics. Ideal for students...

Questions: 15 | Attempts: 208 | Last updated: Mar 21, 2025

Sample Question
Period during which only some factors or variables can be changed because there is not enough time to change the others.

Short run

Long run

Time period

Duration

Business cycle

Base year

Economic System Quiz: Trivia Exam!

Do you know what the economy is? Have you ever imagine how it works? The economic system refers to production, allocating resources, and focusing on the distribution of goods and services, which comprises different institutions...

Questions: 27 | Attempts: 9350 | Last updated: Jan 21, 2025

Sample Question
What are the limitations of a Free enterprise system?

High taxation and less incentive to work hard

Uneven distribution of resources, consumer difficulty in obtaining information, and health-risk products

Restrictions on personal freedoms

There are no limitations

Popular Microeconomics Quizzes

Scarcity Quiz Questions and Answers

So, would you like to take some scarcity quiz questions and answers? Do you fancy yourself knowledgeable in economics and all matters of finance and money? Are you aware of what the term scarcity means? Take this quiz to find out...

Questions: 10 | Attempts: 7341 | Last updated: Aug 19, 2025

Sample Question
What is scarcity?

The act of being afraid

The excess of a product that hasn't been sold

The inability to satisfy the unlimited wants and needs of people.

The number of goods and services consumers want

An Introduction To Microeconomics Quiz!

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...

Questions: 10 | Attempts: 5448 | Last updated: Jan 11, 2025

Sample Question
Microeconomics focuses on ...................................... .

Issues such as economics growth, inflation and unemployment

The working of the whole economy

Factors that affect the total demand for goods and services

The behavior of individuals and organizations towards scarce resources

Business Quiz: Production and Costs

In any business, production and cost are two pivotal processes regarding a business's success and profit. You need to be making sure that the cost of your production does not outweigh the money being brought in. So, let's...

Questions: 26 | Attempts: 5364 | Last updated: Mar 22, 2025

Sample Question
Total revenue equals the quantity of output the firm produces times the price at which it sells its output.

True

False

Recent Microeconomics Quizzes