Microeconomics Quizzes, Questions & Answers

Recent Quizzes

Explore your understanding of microeconomic principles through this focused test. Assess key concepts such as market equilibrium, consumer and producer surplus, and the impacts of government interventions like price ceilings.

Questions: 15 | Attempts: 505 | Last updated: Mar 21, 2023

Sample Question
If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit is

$0.50

$0.75

$1.50

$2.00

$2.75

Do You Have Enough Knowledge On Microeconomics To Pass This Quiz?

Test your expertise in Microeconomics with this challenging quiz! Explore scenarios involving economic decisions, costs, and market behavior. Ideal for students and professionals seeking to assess or enhance their understanding...

Questions: 30 | Attempts: 351 | Last updated: Mar 21, 2023

Sample Question
Farmer Jones bought his farm for $75,000 in 1980 and wants to sell it. Today (2014) the farm is worth $500,000, and the interest rate is 10 percent. ABC Corporation has offered to buy the farm today for $510,000 and XYZ Corporation has offered to buy the farm for $540,000 one year from now. Farmer Jones could earn net profit of $15,000 (over and above all of his expenses) if he farms the land this year. What should he do?

Sell to ABC Corporation

Farm the land for another year and sell to XYZ Corporation

Accept either offer as they are equivalent.

Reject both offers.

None of these

The Fundamental Knowledge Of Microeconomics Quiz

The Fundamental Knowledge of Microeconomics Quiz

. Dive into the intricate world of microeconomics with our 'Microeconomics Fundamentals Quiz.' This quiz is a journey through the essential concepts that govern individual economic units. Explore topics like supply and...

Questions: 25 | Attempts: 776 | Last updated: Nov 21, 2023

Sample Question
A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called:

An isoquant.

A production possibility curve

A production function

An isocost function

Practice Quiz Chp 8

PRACTICE QUIZ CHP 8

The 'PRACTICE QUIZ CHP 8' assesses understanding of microeconomic concepts such as profit maximization, revenue curves, and competitive market conditions. It tests skills in applying theoretical models to practical scenarios,...

Questions: 30 | Attempts: 943 | Last updated: Mar 22, 2023

Sample Question
If managers do not choose to maximize profit, but pursue some other goal such as revenue maximization or growth,

They are more likely to become takeover targets of profit-maximizing firms

Their companies are more likely to survive in the long run

They are more likely to have higher profit than if they had pursued that policy explicitly

They are less likely to be replaced by stockholders

Theya re less likely to be replaced by the board of directors

Quiz On Microeconomics: Supply, Demand, And Government Policies

Quiz on Microeconomics: Supply, Demand, and Government Policies

Explore the impact of government interventions on market equilibrium in this Microeconomics quiz. Assess your understanding of supply, demand, price ceilings, and floors, and the effects of minimum wage adjustments. Ideal for...

Questions: 34 | Attempts: 1495 | Last updated: Nov 25, 2024

Sample Question
If the equilibrium 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

True

False

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: 5327 | Last updated: Jan 11, 2024

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

Econ102: Microeconomics Vocabulary Quiz!

Econ102: Microeconomics Vocabulary Quiz tests key concepts such as economics, resources, incentives, rational self-interest, ceteris paribus, and efficiency. This quiz enhances understanding of how societies manage scarce...

Questions: 55 | Attempts: 119 | Last updated: Mar 22, 2023

The Ultimate Microeconomics Knowledge Test!

Challenge your understanding of microeconomics with 'The Ultimate Microeconomics Knowledge Test!' Explore key concepts like long-run and short-run periods, marginal product, economic profit, and the law of diminishing marginal...

Questions: 50 | Attempts: 262 | Last updated: Mar 21, 2023

Sample Question
The long run is a perdiod during which:

All inputs are variable and no inputs are fixed

Some inputs are variable and some inputs are fixed

No inputs are variable and no inputs are fixed

No inputs are variable and some inputs are fixed

The Ultimate Microeconomics Quiz!

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...

Questions: 54 | Attempts: 240 | Last updated: Mar 21, 2023

Sample Question
Sometimes the government spends more or less, depending on the needs of the country. This statement best represents this economic concept:

Resources should be used as efficiently as possible to achieve society's goals.

When markets don't achieve efficiency, government intervention can improve society's welfare.

Overall spending sometimes gets out of line with the economy's productive capacity.

Government policies can change spending.

Enhance Your Knowledge Of Microeconomics With This Quiz!

Enhance Your Knowledge of Microeconomics with this Quiz!

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...

Questions: 35 | Attempts: 990 | Last updated: Jan 21, 2025

Sample Question
If a society is at point that is inside the production possibilities frontier, the society is experiencing

Inefficiency

Maximizing output

Equity

Efficiency

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