Economic Society Essentials Quiz

Froggy Jumps

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Quiz on core economic concepts

Créé par

John Michael Razo

Philippines

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Economic Society Essentials Quiz


Froggy Jumps Economic Society Essentials QuizVersion en ligne Quiz on core economic concepts par John Michael Razo 1 What does microeconomics study? a Behavior and decision-making of individuals and households b Government fiscal policy and budgets c Macro-level national economic trends 2 Which part studies the overall economy, including inflation and unemployment? a Behavioral economics b Microeconomics c Microeconomics 3 In the law of supply and demand, if demand rises and supply stays the same, what happens to price? a Price decreases b Price increases c Price stays the same 4 GDP measures a country’s spending, industry gains, and coffers. True or false? a Only private sector growth b True c False 5 A capitalist economy primarily features which of the following? a Government ownership and central planning b No taxation or regulation c Private ownership and competition 6 In socialism, who plans the economy and funds public services? a Private individuals b Market-driven corporations c The government 7 In communism, who owns the means of production? a The state b Private individuals c Private individuals 8 What best describes a mixed economy? a Totally free-market with no regulation b Purely socialized system c Government-owned businesses and private businesses that can sell to any part of the world. 9 Production refers to which activity? a Making goods to satisfy people's needs b Using goods produced by others c Destroying surplus products 10 According to economic freedom, which outcome is likely? a Widespread prosperity b No competition c Constant high taxes

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Economic Society Essentials Quiz

Froggy Jumps

À propos de cette activité

Créé par

Téléchargez la version pour jouer sur papier

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Economic Society Essentials QuizVersion en ligne

par John Michael Razo

What does microeconomics study?

Which part studies the overall economy, including inflation and unemployment?

In the law of supply and demand, if demand rises and supply stays the same, what happens to price?

GDP measures a country’s spending, industry gains, and coffers. True or false?

A capitalist economy primarily features which of the following?

In socialism, who plans the economy and funds public services?

In communism, who owns the means of production?

What best describes a mixed economy?

Production refers to which activity?

According to economic freedom, which outcome is likely?