Economics quiz

What is economics

• The study of money

• The study of scarcity

• the study of politics

What drives supply and demand in free market?

• Government

• Prices

What is inflation

• rising prices

• Rising wages

............is the main source of government revenue.

What is monopoly?

• One buyer

• one seller

.......happens in surplus.

What is demand?

• Willingness to pay

• Stock quantity

Demand is a willingness to pay.

• true

• false

Define economics