Featured Quizzes
User Quizzes
Create Quiz
Data and Charts
Word Search
Badges and Games
About JetPunk
Message Board
Random Quiz
Dark Mode
Economics Trivia
Answer all questions to the best of your ability!
2.5 minutes
Rate:
Last updated: March 28, 2020
You have not attempted this quiz yet.
More quiz info >>
| First submitted | March 27, 2020 |
| Times taken | 627 |
| Average score | 70.0% |
| Rating | 4.40 | Report this quiz | Report |
2:30
The quiz is paused. You have remaining.
Copied!
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?
up
down
No correlation between the two
stays the same
2. Which of these is not a major question of economics
What should I make?
Why should I make it?
Who should I make it for?
How should I make it?
3. As the price goes up, quantity demanded goes?
Up
No change
Down
Nor correlation between the two
4. What is it called when supply and demand are equal
equilibrium
Profit
balanced equation
Point of peak
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
Goes up
None of the above
Won't change
7. What is GDP?
Average income per worker
All of the above
Average productivity per worker
Goods and services produced in a year
8. There is a general rise in prices and the value of money goes down. What is this phenomenon called?
Deflation
Inflation
None of the above
Trough
9. What type of model is it when there are infinite producers?
Command market
Monopolistic Competition
Oligopoly
Pure market
10. What is a monopoly?
One producer of a product controlling the price
Few producers of a product
One producer making many products
Infinite producers of a product
Save Your Stats
Your Next Quiz
How many countries do you know? In this quiz, you've got 15:00 to name as many as you can. Go!
Can you name the capitals cities of all 196 countries in the world?
20 random countries have been removed from the map of the world! Can you identify them in 3 minutes?
Drag the flag onto the correct country. Careful, though! One wrong move and the game ends.
2 Comments
Cyan
+4
Level 71
Nov 10, 2020
Fix #6
Pienteremile
+1
Level 65
Aug 31, 2025
I don't agree with the first question. Competition considers the supply side.
New and Popular