Economics Quiz

Economics Quiz

9th Grade

12 Qs

quiz-placeholder

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Economics Quiz

Economics Quiz

Assessment

Quiz

others

9th Grade

Hard

Created by

Katie Pett

Used 1+ times

FREE Resource

12 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the price elasticity of demand for a good is -0.8, what happens to total revenue when the price increases?

Total revenue remains unchanged

Total revenue decreases

Total revenue increases

It depends on the size of the price increase

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which one of the following activities would be included in the tertiary sector of an economy?

Car manufacturing

Fish market

Housebuilding

Insurance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following correctly states the rewards to land and entrepreneurship?

Rent and profit

Interest and profit

Wages and profit

Wages and rent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is a barrier to entry in opening a clothes shop in a town centre?

Qualifications required by staff

A lack of competition

Brand loyalty to established shops

Inelastic demand for clothes

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If there is excess demand in a market, then

Price will rise to meet demand

Consumers will demand more of the product

Price will fall to reach equilibrium

Producers will continue to supply to the market at the current rate

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The merger between Vodafone and Three has been given the go ahead. This means there are very few providers of mobile networks. This is an example of:

An oligopolistic market

A factor of production

Opportunity cost

An increase in capital goods

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of these is an example of a fixed cost?

Commission paid to workers

Raw materials

Electricity

Rent

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