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Economics Quiz

Economics Quiz - Set 2

Play this economics quiz and check your economics knowledge. The next quiz will be updated tomorrow.

✍ ₳uthored By - GP Sir

GP Sir on July 31, 2025

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Economics Quiz 2

1. What does 'inflation' primarily indicate in an economy?

Increase in prices Decrease in unemployment Increase in exports Decrease in interest rates

2. What is the main tool used by central banks to control money supply?

Fiscal policy Monetary policy Trade policy Agricultural policy

3. Which of the following is an example of a public good?

Private education National defense Personal healthcare Private transportation

4. What is 'opportunity cost' in economics?

The money spent on a good The value of the next best alternative foregone Total production cost The price of goods

5. What is the primary goal of fiscal policy?

Regulate money supply Manage government spending and taxation Control interest rates Set foreign exchange rates

6. What is 'GDP per capita'?

Total GDP divided by total population Total exports of a country Average income of the richest 10% National debt per person

7. Which economic system is characterized by private ownership and free markets?

Socialism Capitalism Communism Feudalism

8. What does 'unemployment rate' measure?

Percentage of people without jobs who are actively seeking work Percentage of people employed Total population of a country Number of retired people

9. What is 'monetary policy' mainly used to influence?

Interest rates and inflation Tax collection Government spending Foreign trade agreements

10. What is the 'balance of trade'?

Difference between exports and imports Government budget surplus Total investment in a country Consumer spending

Economics Quiz

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GP Sir

GP Sir is a Development Economist and a Banking Professional. He holds M.A. degrees in Economics, Political Science, Rural Development, a B.Ed., and is an MPhil scholar in Economics. He writes to connect economics with people’s lives.

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