Economics Quiz

1. When you spend ten pounds on petrol, which of these gets the biggest share of that money?

1. The filling station as profit
2. The company that extracted the crude oil
3. The refinery that turned it into petrol
4. The government via tax

2. Which of the following celebrities did not study economics?

1. Arnold Schwarzenegger
2. Konnie Huq
3. J. K. Rowling
4. Mick Jagger

3. How many UK Universities offer economics degree courses?

1. Less than 25
2. 25 to 50
3. 51 to 75
4. 76 to 100

4. Which of the following topics are economists most likely to discuss?

1. Focus groups and market research
2. Life assurance and pensions
3. Production and consumption
4. Legislation and compliance

5. Economics can best be defined as the study of

1. allocating finite resources to satisfy limitless wants.
2. spending your money wisely.
3. producing more goods and services.
4. maximising happiness.

6. The Bank of England is located in

1. Threadneedle Street.
2. Pincushion Avenue.
3. Weaver Road.
4. Bank Square.

7. Which of these wise statements was made by famous economist John Maynard Keynes?

1. “If at first you don’t succeed, don’t take up skydiving.”
2. “In the long run, we’re all dead.”
3. “If you think nobody cares whether you’re dead or alive, try missing a couple of mortgage payments.”
4. “Have you ever lent someone £20 and never seen that person again? It was probably worth it.”

8. The Nobel Prize for Economics was first awarded in which year?

1. 1949
2. 1959
3. 1969
4. 1979

9. Which of the following articles has not recently appeared in an economics journal?

1. Single currency unpopular with voters says poll
2. The Inefficiency of Splitting the [Restaurant] Bill
3. Young, Selfish and Male: Field Evidence of Social Preferences
4. World Cup to stimulate Internet betting boom

10. Look at the following topics:

Which of these are studied by economists?

1. Only the black ones
2. Only the blue ones
3. All except the grey ones
4. All of them

You can come back and change your answers if they aren’t right first time.