Microeconomics Quizzes, Questions & Answers
Recent Quizzes
In Economics, we believe that utility is the amount of satisfaction that a good or service brings. The quiz below tests and advances your knowledge on the different aspects of economics, which include price and utility.
Questions: 39 | Attempts: 153 | Last updated: Aug 16, 2024
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Sample QuestionThe difference between the highest price a consumer is willing to pay for a good and the price the consumer actually pays is called
Economics is a study in which we get to identify how unlimited wants can be met when it comes to very limited resources. This means that people have to make choices on directions to take based on the returns they may garner. Take...
Questions: 21 | Attempts: 1332 | Last updated: Jul 24, 2024
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Sample QuestionTrade between nations is known as......
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: 5362 | Last updated: Jan 11, 2024
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Sample QuestionMicroeconomics focuses on ...................................... .
Economics Exam Practice Set 2 assesses understanding of microeconomic principles such as diseconomies of scale, cost structures, and profit calculations. It evaluates key concepts crucial for economic analysis and decision-making...
Questions: 48 | Attempts: 261 | Last updated: Mar 21, 2023
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Sample QuestionWhen diseconomies of scale occur?
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: 121 | Last updated: Mar 22, 2023
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. Whether you're an aspiring economist or a...
Questions: 15 | Attempts: 4629 | Last updated: Dec 22, 2023
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Sample QuestionIf a business invests in research and development instead of marketing, the potential increase in sales from marketing is the:
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
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Sample QuestionThe long run is a perdiod during which:
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: 241 | Last updated: Mar 21, 2023
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Sample QuestionSometimes the government spends more or less, depending on the needs of the country. This statement best represents this economic concept:
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
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Sample QuestionIf a society is at point that is inside the production possibilities frontier, the society is experiencing
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 is a presumptive depiction of the different...
Questions: 10 | Attempts: 30207 | Last updated: Mar 12, 2025
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Sample QuestionWhich of the following best describes the three fundamental economic questions?
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