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Economics Basic Concepts – Quiz Set 5

Last updated on 2026-02-07

Three 10-question bundles from our Economics Basic Concepts quiz library.

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Table of contents

  1. Set 1: Economics – Set 1
  2. Set 2: Economics – Set 2
  3. Set 3: Economics – Set 3

Bundle 1

Economics – Set 1

Bundle ID: 1200000012

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1

When supply shifts right and demand is unchanged, equilibrium price will:

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2

Price of bus rides changes by 6%, quantity demanded changes by 12%. Demand is:

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3

Which factor would shift the demand curve to the right?

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4

A leftward shift of the supply curve is most likely caused by:

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5

Price of movie tickets changes by 20%, quantity demanded changes by 20%. Demand is:

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6

If demand is elastic, a price increase will typically:

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7

If demand is inelastic, a price increase will typically:

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8

Which is most likely to have inelastic demand?

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9

Cross-price elasticity of demand is positive for:

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10

Price of bottled water changes by 20%, quantity demanded changes by 20%. Demand is:

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Bundle 2

Economics – Set 2

Bundle ID: 1200000013

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1

A price ceiling set below equilibrium creates:

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2

A price floor set above equilibrium creates:

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3

Producer surplus is the area:

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4

Consumer surplus is the area:

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5

Price of gym memberships changes by 20%, quantity demanded changes by 20%. Demand is:

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6

A market is allocatively efficient when:

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7

A market is productively efficient when:

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8

Price of textbooks changes by 10%, quantity demanded changes by 2%. Demand is:

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9

Price of textbooks changes by 5%, quantity demanded changes by 15%. Demand is:

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10

Price of textbooks changes by 20%, quantity demanded changes by 20%. Demand is:

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Bundle 3

Economics – Set 3

Bundle ID: 1200000014

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1

Price of textbooks changes by 8%, quantity demanded changes by 4%. Demand is:

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2

Price of textbooks changes by 6%, quantity demanded changes by 12%. Demand is:

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3

Price of laptops changes by 10%, quantity demanded changes by 2%. Demand is:

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4

Price of laptops changes by 5%, quantity demanded changes by 15%. Demand is:

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5

Price of laptops changes by 20%, quantity demanded changes by 20%. Demand is:

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6

Price of laptops changes by 8%, quantity demanded changes by 4%. Demand is:

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7

Price of laptops changes by 6%, quantity demanded changes by 12%. Demand is:

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8

A subsidy to producers typically shifts supply:

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9

A tax on producers typically shifts supply:

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10

Price of fresh fruit changes by 20%, quantity demanded changes by 20%. Demand is:

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FAQs on practising synonyms

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