Microeconomics Quizzes, Questions & Answers
Recent Microeconomics Quizzes
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
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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
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: 5642 | Last updated: Dec 12, 2023
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Sample QuestionA perfectly competitive market consists of products that are all slightly different from one another
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
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Sample QuestionA good definition of short-run?
This is an advanced level microeconomics quiz. If you’re a novice when it comes to microeconomics, then this quiz might be too tough of a task for somebody of your skill level. We’re confident in this one that only...
Questions: 30 | Attempts: 697 | Last updated: Mar 18, 2023
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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
This ECON 601: Microeconomics Theory and Analysis quiz assesses understanding of basic economic concepts like needs, wants, goods, and services. It's designed for learners to differentiate these terms through practical scenarios,...
Questions: 19 | Attempts: 56 | Last updated: May 25, 2023
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Sample QuestionErika has a two year old child. Her child has had a fever for three days. Erika decides to take her child to the doctor. Going to the doctor is a:
Human beings' wants are unlimited, and the resources required to meet them are most often scarce. Understanding how to allocate the limited resources to meet the unlimited desires of a firm or an individual forms the basis of...
Questions: 31 | Attempts: 2885 | Last updated: Mar 21, 2023
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Sample QuestionThe only requirement for a market to be perfectly competitive is for the market to have many buyers and sellers
Most commonly used with regards to business, the term “microeconomics” refers to how humans behave and interact with one another. This study is often harnessed and effectively used to analyze how firms and...
Questions: 41 | Attempts: 206 | Last updated: Mar 19, 2023
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Sample QuestionA recurring theme in economics is:
This Microeconomics Practice Quiz assesses key concepts such as revenue calculations, cost classifications, and production functions. It is designed to enhance understanding of economic principles, focusing on practical...
Questions: 26 | Attempts: 4486 | Last updated: Mar 22, 2023
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Sample QuestionTotal revenue equals the quantity of output the firm produces times the price at which it sells its output
A Consumer Choice In Microeconomics Quiz; Microeconomics is a branch of economics that looks at how to allocate resources that are scarcer than others. It forces a firm or individual to think strategically and efficiently so that...
Questions: 17 | Attempts: 2253 | Last updated: Mar 22, 2023
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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).
Microeconomics is a division of economics that studies individuals' and firms' behavior in making decisions regarding the distribution of scarce resources and the interactions among these entities and corporations. The...
Questions: 10 | Attempts: 11385 | Last updated: Mar 22, 2023
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Sample QuestionIf the demand curve for good X is downward-sloping, an increase in the price will result in
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