No Graphics! No Charts! No Calculations!

Maybe a thousand years ago we could, but today we simply can not live without money. 

And Econ 101 is an amazing class that teaches us “how money works” on a macro scale. 

This financial eco-system is a “magic” created by Sapiens. And it’s called “Economics”. 

Can You Pass An ECON 101 Introduction To Economics Class

So here is a quiz to test your very basic economics knowledge. No graphics! No charts! No calculations! I took it easy, I promise! Let’s start!

#1 If people stop drinking milk

#2 Which of the following would normally be considered to be an example of complements?

#3 In a complex economy, selling and buying is a more effective procedure for exchange than barter is, because

#4 Which of the following is not a capital good?

#5 Relative to a person who earns $7 per hour, a person who earns $30 per hour has

#6 Suppose the total value of US stocks drops by $100 billion because Donald Trump announces that a black cat is bringing him bad luck. Then,

#7 To an economist, “saving” is

#8 The exchange of goods or services in a free market is likely to increase the welfare of both sides because

#9 If the price elasticity of supply for cell phone service is 3, a 20% price increase will cause the quantity supplied to increase by

#10 A demand curve normally shifts when

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