Economics Quiz!
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
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
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