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Economics Quiz

Economics Quiz - Set 6

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 - Set 6

1. What is 'marginal cost'?

Cost of producing one additional unit Total production cost Average cost of production Fixed cost of production

2. What does 'trade protectionism' involve?

Removing tariffs and quotas Imposing tariffs, quotas, and restrictions on imports Free trade agreements Promoting exports only

3. What is 'aggregate demand'?

Total demand for goods and services in an economy Demand for a single product Demand from government only Demand for imports only

4. What is the meaning of 'liquidity' in economics?

Ease of converting assets to cash Amount of money in circulation Interest rates set by banks Government spending

5. What is 'demand-pull inflation'?

Inflation caused by excess demand over supply Inflation caused by rising production costs Inflation due to wage decreases Inflation caused by government deficits

6. What is the function of the World Trade Organization (WTO)?

Promote free trade and settle trade disputes Control global interest rates Provide loans to developing countries Manage global currencies

7. What does 'fiscal policy' primarily involve?

Government taxation and spending Central bank interest rates Regulation of imports and exports Price controls

8. What is 'market equilibrium'?

When quantity demanded equals quantity supplied When supply exceeds demand When government sets prices When demand exceeds supply

9. Which of the following best describes 'cost-push inflation'?

Inflation caused by rising production costs Inflation caused by excess demand Inflation caused by government deficits Inflation caused by wage decreases

10. What is 'human capital investment'?

Spending on physical infrastructure Education and training to improve worker skills Investment in machinery Government subsidies

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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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Economics Quiz - Set 6

1. What is 'marginal cost'?

2. What does 'trade protectionism' involve?

3. What is 'aggregate demand'?

4. What is the meaning of 'liquidity' in economics?

5. What is 'demand-pull inflation'?

6. What is the function of the World Trade Organization (WTO)?

7. What does 'fiscal policy' primarily involve?

8. What is 'market equilibrium'?

9. Which of the following best describes 'cost-push inflation'?

10. What is 'human capital investment'?

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