Microeconomics Quizzes & Trivia
Curious and eager to learn new trivia about life, the universe, and everything? If yes, what better way to take some awesome microeconomics quizzes online? Test yourself and share these microeconomics quizzes to find out who is the quiz champ!
Enhance your knowledge about a topic or learn something completely new by answering ultimate microeconomics quiz questions.
Each and every microeconomics quiz that we have is made up of well-researched and interesting quiz questions. With detailed instant feedback for quiz answers, you can easily learn something new about microeconomics with every question you attempt.
Questions: 10 | Attempts: 21489
Sample QuestionWhat Microeconomics is about?
Questions: 10 | Attempts: 4194
Sample QuestionIf the demand curve for good X is downward-sloping, an increase in the price will result in
Questions: 26 | Attempts: 2181
Sample QuestionTotal revenue equals the quantity of output the firm produces times the price at which it sells its output
Questions: 31 | Attempts: 2018
Sample QuestionThe only requirement for a market to be perfectly competitive is for the market to have many buyers and sellers
Questions: 26 | Attempts: 1634
Sample QuestionIf the quantity demanded of a good is sensitive to a change in the price of that good, demand is said to be price inelastic.
What will increase in the price result in if the demand curve for good X is downward-sloping? A. An increase in the demand for good X. B. A decrease in the demand for good X. C. No...
Questions: 27 | Attempts: 1466
Sample QuestionAn oligopoly is a market structure in which many firms sell products that are similar but not identical
Questions: 35 | Attempts: 1102
Sample QuestionConsumer surplus is the amount a buyer is willing to pay for a good minus the seller's cost
Questions: 34 | Attempts: 1100
Sample QuestionIf the equlibrium price of gasoline is $1.00 per gallon and the government places a price ceiling on gasoline of $1.50 per gallon, the result will be a shortage of gasoline
Questions: 10 | Attempts: 857
Sample QuestionMicroeconomics focuses on ...................................... .
Questions: 6 | Attempts: 827
Sample QuestionMonopolistic competition means:
Questions: 35 | Attempts: 656
Sample QuestionIf a society is at point that is inside the production possibilities frontier, the society is experiencing
Questions: 35 | Attempts: 653
Sample QuestionA perfectly competitive market consists of products that are all slightly different from one another
Questions: 25 | Attempts: 639
Sample QuestionIn general, a tax raises the price the buyers pay, lowers the price the sellers receive, and reduces the quantity sold
Questions: 17 | Attempts: 569
Sample QuestionIf we measure the quantity of French fries on the horizontal axis and the quantity of hamburgers on the vertical axis, and if the price of French fries is $0.60 and the price of a hamburger is $2.40, then the slope of the budget constraint is 1/4 (and it is negative).
Questions: 8 | Attempts: 404
Sample QuestionYou are a business owner and you have decided that you must produce 20 banana pies every week. This is an example of setting a:
Questions: 15 | Attempts: 279
Sample QuestionEconomics is what?
Questions: 38 | Attempts: 271
Sample QuestionA monopolist is
Questions: 11 | Attempts: 261
Sample QuestionWhat is a perfectly elastic demnd?
Questions: 6 | Attempts: 198
Sample QuestionThe central question in economics is
Questions: 5 | Attempts: 193
Sample QuestionMarginal revenue for the perfectly competitive firm equals:
Questions: 24 | Attempts: 183
Sample QuestionThe idea in economics that “there is no free lunch” means that:
Questions: 30 | Attempts: 163
Sample QuestionWhich of the following work well as definitions of "infrastructure"?a. Essential facilities that add to the capital stock of the economyb. Capital such as roads (often) provided by the government to enable economic activityc. Essential factors such as roads that are necessary for economic activity
Questions: 48 | Attempts: 133
Sample QuestionAn Increase in the countries rate of inflation is apt to
Questions: 50 | Attempts: 132
Sample QuestionThe long run is a perdiod during which:
Questions: 20 | Attempts: 122
Sample QuestionComparing opportunity costs of production is called what?