
Economics Quiz
Authored by Anthony Owusu
Specialty
12th Grade

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51 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When an increase in the price of good A causes an increase in demand for good B, the goods are
normal
complements
inferior
substitutes
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT part of the opportunity cost of attending university?
The tuition fees that you or your government pays.
The alternative uses of the time you spend studying.
The income that you could have earned if you did not attend university.
The cost of the food that you consume while you are attending university.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Inferior goods are best defined as
goods whose supply falls as people's income rises.
goods that only those who are relatively poor purchase.
goods whose demand falls as people's income rises.
goods that have higher-quality alternatives.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Expectations about price changes will affect
both the demand and supply curves.
the demand curve only.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following might shift the demand curve for butter to the right?
A decrease in the price of margarine, a substitute
A decrease in the price of butter
An increase in income
An increase in the price of bread, a complement
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A movement upward along the demand curve to the left could be caused by
A rise in inflation.
A fall in the price of substitutes.
A rise in income.
A decrease in supply.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following will cause a shift in a supply curve?
An increase in the ability/productivity of the firm’s workforce.
A change in hourly wage costs.
A change in the profitability of alternative products.
All of the above
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