Economics Fun Quiz

What does "demand" in economics refer to?

• The quantity of goods that people want to buy at a given price

• The stock of goods available in the market

• The government's decision on pricing goods

• The total income of companies

What is the term for the cost of borrowing money from a bank?

• Rent

• Interest

• Dividend

• Capital

Which type of market structure has only one seller dominating the market?

• Perfect competition

• Monopoly

• Oligopoly

• Monopolistic competition

When a company sells shares to the public for the first time, it is called:

• Merger

• Acquisition

• Initial Public Offering (IPO)

• Public Relations

What does "elasticity of demand" measure?

• The flexibility of supply

• How demand changes with a change in price

• The quantity supplied in a market

• The profit margin of companies

Which economic sector includes companies like Infosys and TCS?

• Primary sector

• Secondary sector

• Tertiary sector

• Quaternary sector

What is the term for the total market value of all final goods and services produced in a country during a year?

• Net National Income

• Gross Domestic Product (GDP)

• National Revenue Index

• Total National Output

Which company is famous for using the assembly line to reduce costs and increase production?

• Tesla

• Toyota

• Ford

• BMW

What is "revenue" in the context of a business?

• Total profit earned

• Total money earned before expenses

• Total investment made

• Total taxes paid

What does "capital" refer to in economics?

• Money required to start a business

• The headquarters of a company

• The profit earned by a company

• Raw materials used in production