Microeconomics quizzes
How scarcity, supply and demand shape prices, and why essential goods can cost less than luxuries.
Quizzes in this topic
-
Microeconomics: Supply, demand and market equilibrium · Demand and the Demand Curve
The law of demand, why the demand curve slopes down, and what shifts it versus what only moves along it.
23 questions -
Microeconomics: Why Diamonds Cost More Than Water
A tour of microeconomics, from rent caps and elasticities to monopolies, cartels, pollution and wages, through the ideas that most surprise newcomers.
50 questions
Try a question
From Microeconomics: Supply, demand and market equilibrium · Demand and the Demand Curve
A headline says: 'Prices rose, so demand fell.' How would an economist state it precisely?
- Quantity demanded fell; demand did not shift
- Supply fell, so demand had to fall
- Demand fell, shifting the curve left
Show the answer
Answer: Quantity demanded fell; demand did not shift
'Demand' is the whole price-quantity relationship; a price change alters the quantity demanded at a point on that unchanged relationship.
A few questions at a time, before your apps
BrainTok asks a few questions from quizzes like these before the apps you choose open, so your screen time turns into learning. For iPhone.
Join the beta