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 taken387
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?
No correlation between the two ✓
stays the same ✓
up ✓
down ✓
2. Which of these is not a major question of economics
What should I make? ✓
Who should I make it for? ✓
Why should I make it? ✓
How should I make it? ✓
3. As the price goes up, quantity demanded goes?
Up ✓
Nor correlation between the two ✓
Down ✓
No change ✓
4. What is it called when supply and demand are equal
balanced equation ✓
Profit ✓
Point of peak ✓
equilibrium ✓
5. What is equal to revenue minus cost?
marginal return ✓
quantity ✓
price ✓
profit ✓
6. What happens to consumer spending if there is a tax cut?
Goes up ✓
Goes up ✓
Won't change ✓
None of the above ✓
7. What is GDP?
Average income per worker ✓
All of the above ✓
Goods and services produced in a year ✓
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 ✓
Deflation ✓
Inflation ✓
Trough ✓
9. What type of model is it when there are infinite producers?
Command market ✓
Pure market ✓
Monopolistic Competition ✓
Oligopoly ✓
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