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Economics Trivia - Statistics
General Stats
- This quiz has been taken 627 times
- The average score is 7 of 10
Answer Stats
| Question | Answer | % Correct |
|---|---|---|
| What is it called when supply and demand are equal | equilibrium | 91%
|
| As the price goes up, quantity demanded goes? | Down | 89%
|
| What is equal to revenue minus cost? | profit | 89%
|
| There is a general rise in prices and the value of money goes down. What is this phenomenon called? | Inflation | 82%
|
| What is GDP? | Goods and services produced in a year | 76%
|
| What is a monopoly? | One producer of a product controlling the price | 75%
|
| As the demand goes up, competition goes? | up | 71%
|
| What type of model is it when there are infinite producers? | Pure market | 68%
|
| Which of these is not a major question of economics | Why should I make it? | 47%
|
| What happens to consumer spending if there is a tax cut? | Goes up | 42%
|
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