IGCSE Economics True/False Quiz

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A quick true/false test on key IGCSE econ concepts.

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Prithvi Agarwal

Estados Unidos

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IGCSE Economics True/False QuizVersión en línea A quick true/false test on key IGCSE econ concepts. por Prithvi Agarwal 1 Inflation measures the sustained rise in the overall level of prices in an economy. Yes No 2 A budget deficit is when government saves more than it spends. Yes No 3 Public goods are non-excludable and non-rivalrous. Yes No 4 A decrease in supply always lowers both equilibrium price and quantity. Yes No 5 Demand tends to fall when the price of a good rises, ceteris paribus. Yes No 6 Tariffs reduce import prices. Yes No 7 In the short run, all factors of production are variable. Yes No 8 In a perfectly competitive market, many buyers and sellers ensure price-taking behavior. Yes No 9 Opportunity cost is the value of the next best alternative foregone. Yes No 10 The price elasticity of demand for luxury goods is always greater than for essential goods. Yes No

IGCSE Economics True/False QuizVersión en línea

A quick true/false test on key IGCSE econ concepts.

por Prithvi Agarwal

Inflation measures the sustained rise in the overall level of prices in an economy.

Yes

A budget deficit is when government saves more than it spends.

Yes

Public goods are non-excludable and non-rivalrous.

Yes

A decrease in supply always lowers both equilibrium price and quantity.

Yes

Demand tends to fall when the price of a good rises, ceteris paribus.

Yes

Tariffs reduce import prices.

Yes

In the short run, all factors of production are variable.

Yes

In a perfectly competitive market, many buyers and sellers ensure price-taking behavior.

Yes

Opportunity cost is the value of the next best alternative foregone.

Yes

The price elasticity of demand for luxury goods is always greater than for essential goods.

Yes

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IGCSE Economics True/False Quiz

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IGCSE Economics True/False QuizVersión en línea

por Prithvi Agarwal

Inflation measures the sustained rise in the overall level of prices in an economy.

A budget deficit is when government saves more than it spends.

Public goods are non-excludable and non-rivalrous.

A decrease in supply always lowers both equilibrium price and quantity.

Demand tends to fall when the price of a good rises, ceteris paribus.

Tariffs reduce import prices.

In the short run, all factors of production are variable.

In a perfectly competitive market, many buyers and sellers ensure price-taking behavior.

Opportunity cost is the value of the next best alternative foregone.

The price elasticity of demand for luxury goods is always greater than for essential goods.

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