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Queen's Econ DSC Trivia Night Flashcards | StudBud
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Queen's Econ DSC Trivia Night
Queen's Econ DSC Trivia Night
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Flashcards
29 cards
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Practice quiz
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Questions
29
Answers
1
What is a 'bear market'?
A market in which prices are rising
A market in which prices are falling
A market with money
A market with bears
2
What is the smallest bone in the human body?
spine
collar bone
stapes
wrist bone
3
Budget deficit is when a government spends less than it earns in revenue
True
False
4
What does GDP stand for in economics?
Great Domestc Product
Gross Domestic Product
Good Domestic Product
Grand Domestic Product
5
What happens to the price of a product when demand increases but supply remains the same?
Price fluctuates
Price stays the same
Price increases
Price decreases
6
The law of supply is: as the price of a good or service increases, the quantity supplied increases, and vice versa
True
False
7
Which river is the longest in the world?
Amazon River
Ohio River
Nile River
Mississippi River
8
What does the economic problem of scarcity refer to?
The problem of how to provide free healthcare
The distribution of wealth among citizens
The gap between limited resources and limitless wants
The issue of high unemployment rates
9
Elasticity is the measure of price changes in response toits demand change
False
True
10
How many blue stripes are there on the U.S. flag?
ten
two
None
five
11
What is the only fruit that has its seeds on the outside?
strawberry
pear
apple
watermelon
12
How many hearts does an octopus have?
two
one
three
four
13
"Shape of You" is a popular song by which artist?
Ed Sheeran
Winnie the Pooh
ColdPlay
Taylor Swift
14
Which country invented ice cream?
Iceland
Canada
the UK
China
15
Demand is the quantity of a good or service that consumers are willing and able to purchase at various prices
True
False
16
What is the name of the tax imposed on imported goods and services
HST
GST
Income tax
Tariff
17
In which year did the Titanic sink?
1912
1913
1915
1914
18
In a perfectly competitive market, individual firms have the power to set prices for their products.
False
True
19
Which country is known for the dish Paella?
Germany
Japan
Canada
Spain
20
Who is known as the father of modern economics?
Adam Smith
Zoltan Acs
Leonardo Auernheimer
Frédéric Bastiat
21
What is opportunity cost?
Financial cost only
Total cost of choosing one action over another
Cost of production
Cost of the next best alternative
22
What is the chemical symbol for gold?
Zinc
Tin
Au
Fe
23
What is economics?
Study of government policies
Study of wealth
Study of how societies use scarce resource
Study of stocks
24
What metal is associated with the 50th wedding anniversary?
silver
mercury
nickel
gold
25
Which planet in our solar system is known as the Red Planet?
Sun
Earth
Mars
Venus
26
What animal is known to spend about 90% of its day sleeping?
Bear
Koala
Dog
Cat
27
Inflation is a general increase in prices and fall in the purchasing value of money
False
True
28
What is the tallest breed of dog in the world?
Great Dane
Golden Retriever
Bulldog
Bernese Mountain Dog
29
What is 'microeconomics' primarily concerned with?
The trade
Performance of economics
The behavior of individuals and firms
The structure of economy
