Microeconomics Quizzes, Questions & Answers

Recent Quizzes

This Microeconomics True\/False quiz assesses understanding of externalities, market efficiency, economic statements, modeling, trade benefits, and specialization. Ideal for learners aiming to grasp fundamental economic concepts...

Questions: 52 | Attempts: 2717 | Last updated: Nov 17, 2023

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.

True

False

Microeconomics 101 Part II Quiz

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...

Questions: 24 | Attempts: 330 | Last updated: Mar 20, 2023

Sample Question
The idea in economics that “there is no free lunch” means that:

Businesses would lose money if they offered free lunches

The thought of a free lunch is often better than the reality of consuming it

There are always opportunity costs when scarce resources are used to prepare lunches

Businesses use free lunches to attract customers but this advertising practice is costly

Ecs1501 - Study Unit 1 -test

ECS1501 - Study Unit 1 -Test

ECS1501 - Study Unit 1 - Test focuses on fundamental economic concepts such as scarcity, opportunity cost, and economic theory. It assesses understanding through theoretical questions and practical application via graphs,...

Questions: 5 | Attempts: 279 | Last updated: Mar 21, 2023

Sample Question
Select the incorrect statement with reference to economic theory.

Scarcity, wants, choice and opportunity cost are some of the main elements of economics.

Economics is a social science concerned with the efficient use of unlimited goods and service to achieve maximum satisfaction of human wants.

Economics is concerned with a systematic understanding of patterns of production, consumption and distribution of goods and services.

Introduction To Micro Economics

This quiz, titled 'Introduction To Micro Economics', assesses key principles such as scarcity, rational decision-making, and economic definitions. It focuses on understanding human behavior in economic contexts, highlighting the...

Questions: 68 | Attempts: 420 | Last updated: Mar 21, 2023

Sample Question
Find the correct match :

An enquiry into the nature and causes of the wealth of the nation : A.C.Pigou.

Science which deals with wealth : Alfred Marshall.

Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses : Robbins.

The range of our enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rod of money : Adam Smith.

Economics - Supply & Demand

Explore the fundamentals of market dynamics in this Economics - Supply & Demand quiz. Assess your understanding of how supply, demand, and equilibrium points interact to shape market outcomes. Ideal for students looking to...

Questions: 5 | Attempts: 131 | Last updated: Feb 14, 2024

Sample Question
Categorize the following questions on this quiz as affecting mostly Supply, Demand , or Both. Equilibrium Point..

Demand

Supply

Both

A Quick Microeconomics Knowledge Test

Explore key microeconomic concepts through this engaging test. Assess your understanding of externalities, market behaviors, government interventions, and consumer responses to price changes. Perfect for learners seeking to...

Questions: 8 | Attempts: 133 | Last updated: Jul 26, 2024

Sample Question
A situation in which a benefit or a cost associated with an economic activity spills over to third parties is called:

A merit good

An externality

The free-rider problem

A public good

An Informative Quiz On The Aspects Of Microeconomics

An Informative Quiz on the Aspects of Microeconomics

This is an informative quiz on the aspects of microeconomics. The market would not exist if there were no consumers and producers. The level of consumption or production in a market is dependent on a lot of variables and we have...

Questions: 35 | Attempts: 1576 | Last updated: Mar 22, 2023

Sample Question
Consumer surplus is the amount a buyer is willing to pay for a good minus the seller's cost

True

False

A Misc Quiz On Microeconomics

A Misc Quiz on Microeconomics

There are a lot of factors that affect the economy as it is and one of the major ones is demand, supply, and government policies that affect the industries in existence or block others from existing. What do you know about these...

Questions: 34 | Attempts: 1707 | Last updated: Mar 22, 2023

Sample Question
If 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

True

False

A Microeconomics Quiz On Supply And Demand

A Microeconomics Quiz on Supply and Demand

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: 5633 | Last updated: Dec 12, 2023

Sample Question
A perfectly competitive market consists of products that are all slightly different from one another

True

False

A Microeconomics Intelligence MCQ Test!

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...

Questions: 33 | Attempts: 168 | Last updated: Mar 20, 2023

Sample Question
A good definition of short-run?

Period of time in which all factors of production are variable

Period in time in which all factors of production are fixed

Period of time in which at least one factor of production is fixed

400m hurdles

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