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Economics Quiz!

A vibrant illustration depicting various economic concepts such as supply and demand, market graphs, and currency symbols, with a modern and educational vibe.

Economics Knowledge Quiz

Test your knowledge of economics with our engaging quiz! This quiz covers fundamental concepts, including supply and demand, market structures, and price controls. Whether you're a student, teacher, or simply an economics enthusiast, this quiz will help you gauge your understanding of key topics.

11 thought-provoking questions
Multiple choice and checkbox formats
Learn about real-world economic issues

11 Questions3 MinutesCreated by CuriousEconomist247

What are the topics you have learnt about?

Supply, Demand, Equilibrium, Elasticity, Price controls

Public goods, Common resources, Merit goods, Externalities, Asymmetric information

Monopoly, Monopolistic competition, Oligopoly

None of the above

What is demand in economics?

Amount of a good that consumers are willing to buy

Quantity of goods that firms are willing to make available

Amount of a good that consumers are willing and able to buy at various prices

What people want

Which of these are complementary goods?

Mobile phone and a car

Book and blanket

Pizza and pet food

Petrol and a car

What is the law of supply?

A law telling companies how much they can sell

States that the quantity supplied of a good rises when the price of a good rises

How much stock a company supplies to one store

What are some of the types of price controls?

Price ceiling and price floor

Price ground and price sky

Price ceiling and price ground

Price sky and price floor

Who was one of the first examples to introduce a price ceiling?

Julius Caesar

Louis XIII

Diocletian

Alexandar

When quantity demanded is greater than quantity supplied, what is this?

Shortage

Surplus

How many substitutes does an elastic good have?

Many

Few to none

If a good is perfectly elastic, what shape is the graph?

Bell shaped

Horizontal line

Vertical line

How much do you feel you learned about economics through this instagram page?

None at all

A little

A fair amount

A lot

Name(this is for the leader board):

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