Economics Quiz – MCQs on Micro & Macro Economics

Q1. If the store has 100 packs of toilet paper and 200 people want to buy it, is it a shortage or surplus?

Q2. What is another word for extra?

Q3. What is collective bargaining?

Q4. All personal needs, such as health care and education, are provided by the government.

Q5. According to our text , pg 13, there are ___ factors that can affect supply .

Q6. Which is a likely complement to a tablet computer?

Q7. Buy goods and services from other countries, money will leave the circular flow to pay for these goods

Q8. Anewtechnology increases the speed of computers without increasing production costs. What is the MOST LIKELY effect of this technology?

Q9. Which of the following is considered to be one of the four types of economies we have studied?

Q10. In a traditional economy, the decision to make certain products is decided by

Q11. Why do countries trade with each other?

Q12. Do you know what is ROTTEN TOMATOES?

Q13. Occurs when something prompts consumers to buy different amounts at every price

Q14. The law of demand states that, all other factors being equal, as the product price increases, the quantity of the product sought by buyers

Q15. refers to the dispersal of materials, including land, water, and minerals among geographic locations

Q16. What is a factory building an example of?

Q17. Currency

Q18. If the citizen participation in a country is labeled as democracy then?

Q19. ___are the main determinants of price elasticity of demand.

Q20. Positive incentive

Q21. Why might a government encourage a monopoly?

Q22. This image represents a(n):

Q23. Which of the following is not an example of a service:

Q24. A specific limit placed on the number of imports that may enter a country

Q25. Real items, such as cars, watches, and clothing; things people make

Economics - Part 3

Q1. If the store has 100 packs of toilet paper and 200 people want to buy it, is it a shortage or surplus?

Q2. What is another word for extra?

Q3. What is collective bargaining?

Q4. All personal needs, such as health care and education, are provided by the government.

Q5. According to our text , pg 13, there are ___ factors that can affect supply .

Q6. Which is a likely complement to a tablet computer?

Q7. Buy goods and services from other countries, money will leave the circular flow to pay for these goods

Q8. Anewtechnology increases the speed of computers without increasing production costs. What is the MOST LIKELY effect of this technology?

Q9. Which of the following is considered to be one of the four types of economies we have studied?

Q10. In a traditional economy, the decision to make certain products is decided by

Q11. Why do countries trade with each other?

Q12. Do you know what is ROTTEN TOMATOES?

Q13. Occurs when something prompts consumers to buy different amounts at every price

Q14. The law of demand states that, all other factors being equal, as the product price increases, the quantity of the product sought by buyers

Q15. refers to the dispersal of materials, including land, water, and minerals among geographic locations

Q16. What is a factory building an example of?

Q17. Currency

Q18. If the citizen participation in a country is labeled as democracy then?

Q19. ___are the main determinants of price elasticity of demand.

Q20. Positive incentive

Q21. Why might a government encourage a monopoly?

Q22. This image represents a(n):

Q23. Which of the following is not an example of a service:

Q24. A specific limit placed on the number of imports that may enter a country

Q25. Real items, such as cars, watches, and clothing; things people make