12th Grade Microeconomics Quizzes, Questions & Answers
Top Trending Quizzes
An oligopoly is a type of market in which the competition is often limited and there are a limited number of consumers and sellers. Over the past week, we have been able to cover much about this type of market and below is a quiz...
Questions: 27 | Attempts: 2607 | Last updated: Mar 22, 2023
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Sample QuestionAn oligopoly is a market structure in which many firms sell products that are similar but not identical
Explore key concepts of microeconomics through the 'Firms in Competitive Markets' trivia quiz. This quiz assesses understanding of market competition, revenue management, and profit maximization strategies essential for economic...
Questions: 30 | Attempts: 1023 | Last updated: Mar 17, 2024
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Sample QuestionThe only requirement for a market to be perfectly competitive is for the market to have many buyers and sellers.
This is an advanced level microeconomics quiz. If you’re a novice when it comes to microeconomics, then this quiz might be too tough of a task for somebody of your skill level. We’re confident in this one that only...
Questions: 30 | Attempts: 659 | Last updated: Mar 18, 2023
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Sample QuestionWhich of the following work well as definitions of "infrastructure"?a. Essential facilities that add to the capital stock of the economyb. Capital such as roads (often) provided by the government to enable economic activityc. Essential factors such as roads that are necessary for economic activity
Questions: 142 | Attempts: 339 | Last updated: Mar 21, 2023
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Sample QuestionBecause Buyers and Sellers neglect the external effects of their actions when deciding how much to demand or supply, the market equilibrium is not efficient.
A Consumer Choice In Microeconomics Quiz; Microeconomics is a branch of economics that looks at how to allocate resources that are scarcer than others. It forces a firm or individual to think strategically and efficiently so that...
Questions: 17 | Attempts: 2238 | Last updated: Mar 22, 2023
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Sample QuestionIf we measure the quantity of French fries on the horizontal axis and the quantity of hamburgers on the vertical axis, and if the price of French fries is $0.60 and the price of a hamburger is $2.40, then the slope of the budget constraint is 1/4 (and it is negative).
Recent Quizzes
The Costs of Production
Questions: 26 | Attempts: 450 | Last updated: Mar 22, 2023
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Sample QuestionTotal revenue equals the quantity of output the firm produces times the price at which it sells its output
Questions: 31 | Attempts: 407 | Last updated: Mar 20, 2023
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Sample QuestionThe only requirement for a market to be perfectly competitive is for the market to have many buyers and sellers.
Welcome to the Microeconomics 101 Part II Quiz. You can be a complete novice or the most experience person in a particular field of work or study, and a helpful quiz on that topic will still benefit you, whether it’s...
Questions: 24 | Attempts: 330 | Last updated: Mar 20, 2023
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Sample QuestionThe idea in economics that “there is no free lunch” means that:
Questions: 8 | Attempts: 133 | Last updated: Jul 26, 2024
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Sample QuestionA situation in which a benefit or a cost associated with an economic activity spills over to third parties is called:
This is an informative quiz on the aspects of microeconomics. The market would not exist if there were no consumers and producers. The level of consumption or production in a market is dependent on a lot of variables and we have...
Questions: 35 | Attempts: 1576 | Last updated: Mar 22, 2023
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Sample QuestionConsumer surplus is the amount a buyer is willing to pay for a good minus the seller's cost
This is a knowledge quiz about monopoly in microeconomics. You might only know about the word “monopoly” from the popular boardgame which is famous for making families and friends question their loyalty to one...
Questions: 38 | Attempts: 1059 | Last updated: Jan 15, 2024
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Sample QuestionA monopolist is:
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