Sign in Sign up

Search for:

Product
Solutions
Pricing
Courses
About
Contact
Login

Search for:

Quiz 1 of 0

Quiz – Grasping Principles of Economics

HiveBuddy November 22, 2023

Welcome to the quiz for Lesson 5: Grasping Principles of Economics

In this Quiz we’ll test your knowledge and understanding of the following topics:

Microeconomics vs. Macroeconomics
Demand, Supply, and Market Equilibrium
Elasticity and Its Applications
Market Structures
Economic Indicators and Their Impact on Business
International Trade and Its Implications

Best of Luck!

Time limit: 0

Quiz Summary

0 of 5 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 5 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Categories

Not categorized 0%

1
2
3
4
5

Current
Review
Answered
Correct
Incorrect

Question 1 of 5

1. Question
What is the difference between microeconomics and macroeconomics?
- Microeconomics focuses on individual consumers and businesses, while macroeconomics looks at the overall economy.
- Microeconomics only considers personal finances, while macroeconomics considers government finances.
- Microeconomics is only applicable to small businesses, while macroeconomics applies to large corporations.
- Microeconomics looks at the long-term effects of economic policies, while macroeconomics focuses on short-term effects.
Correct

Incorrect
Question 2 of 5

2. Question
What are demand, supply, and market equilibrium?
- Demand refers to the quantity of goods and services consumers are willing and able to buy, supply is the quantity of goods and services producers are willing and able to sell, and market equilibrium is when demand is equal to supply.
- Demand refers to the quantity of goods and services producers are willing and able to sell, supply is the quantity of goods and services consumers are willing and able to buy, and market equilibrium is when demand exceeds supply.
- Demand and supply are the same thing, and market equilibrium refers to a situation of no competition.
- Demand refers to the money consumers are willing to spend, supply is the money producers are willing to accept, and market equilibrium is when supply exceeds demand.
Correct

Incorrect
Question 3 of 5

3. Question
What is elasticity and what are its applications?
- Elasticity measures the amount of stretchiness in a good or service, and its applications include determining price sensitivity and forecasting sales.
- Elasticity refers to the ability of a market to bounce back from a recession, and its applications include predicting economic growth rates.
- Elasticity is the study of demand and supply, and its applications include analyzing market structures and government regulations.
- Elasticity is the measurement of income inequality, and its applications include studying poverty rates and social welfare programs.
Correct

Incorrect
Question 4 of 5

4. Question
What are the different market structures?
- Market structures refer to the physical locations where buyers and sellers meet, and they include malls, markets, and online platforms.
- Market structures are the types of products and services available in the market, and they include consumer goods, industrial goods, and services.
- Market structures refer to the level of competition in a market, and they include perfect competition, monopolistic competition, oligopoly, and monopoly.
- Market structures are the different pricing strategies used by businesses, and they include cost-plus pricing, value-based pricing, and competitive pricing.
Correct

Incorrect
Question 5 of 5

5. Question
How do economic indicators impact businesses?
- Economic indicators have no impact on businesses.
- Economic indicators provide valuable information about the overall economic health and performance, which businesses can use to make informed decisions.
- Economic indicators only impact large corporations.
- Economic indicators are irrelevant for business planning and forecasting.
Correct

Incorrect

Quick Links

About Us
Contact Us
Privacy Policy
Terms of Service
Help Docs

Contact

contact@coursehive.co

Social

Facebook Twitter Instagram

© 2023 CourseHive – All Rights Reserved

Login to Continue

Remember me Forgot Password?

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.

Report

There was a problem reporting this post.

Harassment Harassment or bullying behavior

Inappropriate Contains mature or sensitive content

Misinformation Contains misleading or false information

Offensive Contains abusive or derogatory content

Suspicious Contains spam, fake content or potential malware

Other

Report note

Block Member?

Please confirm you want to block this member.

You will no longer be able to:

See blocked member's posts
Mention this member in posts
Invite this member to groups
Message this member
Add this member as a connection

Please note: This action will also remove this member from your connections and send a report to the site admin. Please allow a few minutes for this process to complete.

Report

You have already reported this .