Question 1
What principle predicts that buyers will usually purchase fewer units when an item's price rises?
- Law of demand
- Law of utility
- Law of diminishing returns
- Law of supply
Show the answer
Law of demand
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Microeconomics trivia quiz
How well do you really know Microeconomics? Find out in a live duel. QuizDown has over 120 Microeconomics questions, from easy to expert, and you’re matched with a real player who gets the same seven.
What the Microeconomics questions cover
- Demand Theory
- General Equilibrium
- Elasticity
- Oligopoly
- Costs
- Information Economics
- Duality
- Externalities
- Game Theory
- Market Structures
- Markets
- Mechanism Design
Try three Microeconomics questions
Question 2
What principle predicts that sellers will usually offer more units when an item's price rises?
- Law of utility
- Law of supply
- Law of demand
- Law of scarcity
Show the answer
Law of supply
Question 3
What is the value of the next-best alternative given up when someone makes a choice?
- Marginal revenue
- Fixed cost
- Opportunity cost
- Consumer surplus
Show the answer
Opportunity cost
In a real match you’d have ten seconds for each, and faster right answers score more.
How a Microeconomics match works
- Seven rounds. The same seven Microeconomics questions for you and your opponent.
- Ten seconds each. A right answer in two seconds scores 20; at the buzzer, 11.
- The last round counts double. It’s never over until it’s over.
Your Microeconomics ranking is its own: climb it without your other topics dragging you down.