home

Economics Trivia

Answer all questions to the best of your ability!
2.5 minutes
Quiz by abalaji
Rate:
Last updated: March 28, 2020
You have not attempted this quiz yet.
More quiz info >>
First submittedMarch 27, 2020
Times taken391
Average score80.0%
Report this quizReport
Quiz and answer stats >>
Friends stats >>
2:30
The quiz is paused. You have remaining.
Scoring
You scored / = %
This beats or equals % of test takers also scored 100%
The average score is
Your high score is
Your fastest time is
Keep scrolling down for answers and more stats ...
1. As the demand goes up, competition goes?
down ✓
No correlation between the two ✓
up ✓
stays the same ✓
2. Which of these is not a major question of economics
How should I make it? ✓
Who should I make it for? ✓
Why should I make it? ✓
What should I make? ✓
3. As the price goes up, quantity demanded goes?
Up ✓
Down ✓
No change ✓
Nor correlation between the two ✓
4. What is it called when supply and demand are equal
balanced equation ✓
Point of peak ✓
equilibrium ✓
Profit ✓
5. What is equal to revenue minus cost?
profit ✓
price ✓
marginal return ✓
quantity ✓
6. What happens to consumer spending if there is a tax cut?
Goes up ✓
Won't change ✓
Goes up ✓
None of the above ✓
7. What is GDP?
All of the above ✓
Goods and services produced in a year ✓
Average income per worker ✓
Average productivity per worker ✓
8. There is a general rise in prices and the value of money goes down. What is this phenomenon called?
None of the above ✓
Trough ✓
Deflation ✓
Inflation ✓
9. What type of model is it when there are infinite producers?
Oligopoly ✓
Monopolistic Competition ✓
Command market ✓
Pure market ✓
10. What is a monopoly?
One producer making many products ✓
Few producers of a product ✓
One producer of a product controlling the price ✓
Infinite producers of a product ✓
1 Comments
Cyan
+4
Level 71
Nov 10, 2020
Fix #6
Save Your Progress

Copyright H Brothers Inc, 2008–2024

Contact Us | Go To Top | View Desktop Site