Economics Trivia Questions

Trivia questions about economics, its thinkers and its terms: tap a choice for the answer and its reason.

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Which English economist described early mercantilist policy in England's Treasure by Foreign Trade?

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Unofficial practice questions, not affiliated with any school, exam board or quiz show. Bank checked October 3, 2026.

How it works

General economics trivia questions and answers in four rounds: before Adam Smith, from Smith to Marx, marginalists to game theory, and the words of economics.

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Basic economics trivia questions

The words of economics is the first-week round: micro and macro, the four factors of production, duopoly and oligopoly, externalities and public goods.

Economy trivia questions from history

Before Adam Smith runs from Xenophon to the Economic Table. From Smith to Marx has the invisible hand, Say's law and where Das Kapital was written. Marginalists to game theory covers the schools of Lausanne and Austria, Veblen, Keynes and the founding of game theory.

Tips
  • Run The words of economics before the history rounds; it has the most easy questions.

Questions and answers

What are some easy economics trivia questions?

What was economics called before the late 19th century? Which branch studies households and firms? What was Adam Smith's first book? The answers are political economy, microeconomics and The Theory of Moral Sentiments.

Is there money advice in the quiz?

No. Nothing here says what to buy, save or invest in, and no question takes a side between schools of thought. The questions are history and vocabulary.

Who is called the father of economics?

Adam Smith was long given the title. The article the quiz was read in notes that a study of 1964 pointed to the earlier work of Ibn Khaldun.

How were the answers checked?

Each was read on October 3, 2026 in the English Wikipedia article History of economic thought or Economics, linked under the question. Living economists and current figures are left out.

All 41 questions with answers

Before Adam Smith 10

  • A study of 1964 challenged the view of Adam Smith as the "Father of Economics" by pointing to which earlier thinker? Answer: Ibn Khaldun. Source: Wikipedia: History of economic thought
  • How does the first known form of Gresham's law run? Answer: Bad money drives out good. Source: Wikipedia: History of economic thought
  • In which country did the School of Salamanca develop economic theory in the 16th and 17th centuries? Answer: Spain. Source: Wikipedia: History of economic thought
  • Sir William Petty, who began publishing in 1662, applied whose scientific tradition to economics? Answer: Francis Bacon's. Source: Wikipedia: History of economic thought
  • Until the 18th and 19th centuries, economics in the Western world was part of which discipline? Answer: Philosophy. Source: Wikipedia: History of economic thought
  • What does the title of the book Tableau économique, of 1758, mean? Answer: Economic Table. Source: Wikipedia: History of economic thought
  • Which English economist described early mercantilist policy in England's Treasure by Foreign Trade? Answer: Thomas Mun. Source: Wikipedia: History of economic thought
  • Which scientist's forces of inertia and gravity did Richard Cantillon consciously imitate in his picture of the economy? Answer: Isaac Newton's. Source: Wikipedia: History of economic thought
  • Which treatise on statecraft and economic policy was written in the Maurya Empire by Chanakya with several sages? Answer: The Arthashastra. Source: Wikipedia: History of economic thought
  • Xenophon's Oeconomicus, of about 360 BC, is a dialogue about agriculture and what else? Answer: Household management. Source: Wikipedia: History of economic thought

From Smith to Marx 9

  • Adam Smith saw ever-expanding opportunities for trade. Which economist's view of the limits of population is set against his? Answer: Thomas Malthus. Source: Wikipedia: History of economic thought
  • In which library did Karl Marx write Das Kapital? Answer: The British Museum's library. Source: Wikipedia: History of economic thought
  • What was Adam Smith's first book, published in 1759? Answer: The Theory of Moral Sentiments. Source: Wikipedia: History of economic thought
  • Which law of David Ricardo's showed that taxes on land cannot be passed on to tenants? Answer: The Law of Rent. Source: Wikipedia: History of economic thought
  • Which phrase names Adam Smith's idea that individual effort produces social good? Answer: The invisible hand. Source: Wikipedia: History of economic thought
  • Which treatise on money, published 25 years before The Wealth of Nations, is seen as possibly the first truly modern economic analysis? Answer: Della Moneta. Source: Wikipedia: History of economic thought
  • Who wrote Principles of Political Economy in 1848? Answer: John Stuart Mill. Source: Wikipedia: History of economic thought
  • Whose "law of markets" held that there could never be a general glut of goods in the whole economy? Answer: Say's. Source: Wikipedia: History of economic thought
  • With which concept does Marx begin Das Kapital? Answer: Commodities. Source: Wikipedia: History of economic thought

Marginalists to game theory 11

  • The Cambridge School was founded with a book of 1871. Who wrote it? Answer: Stanley Jevons. Source: Wikipedia: History of economic thought
  • Carl Menger, Eugen von Böhm-Bawerk and Friedrich von Wieser made up which school of economics? Answer: The Austrian School. Source: Wikipedia: History of economic thought
  • In his book of 1919 Keynes recorded his outrage at the collapse of American adherence to which program? Answer: The Fourteen Points. Source: Wikipedia: History of economic thought
  • In which year was Friedrich Hayek awarded the Nobel Prize in Economics? Answer: 1974. Source: Wikipedia: History of economic thought
  • Jevons, Alfred Marshall and which third economist were the main representatives of the Cambridge School? Answer: Arthur Pigou. Source: Wikipedia: History of economic thought
  • Léon Walras and Vilfredo Pareto led a school named after which Swiss city? Answer: Lausanne. Source: Wikipedia: History of economic thought
  • What is the process called in which new innovations destroy old products and let the economy begin a new phase of growth? Answer: Creative destruction. Source: Wikipedia: History of economic thought
  • Which American economist wrote of wealthy people who "conspicuously consumed" their riches to show success? Answer: Thorstein Veblen. Source: Wikipedia: History of economic thought
  • Which book did John Maynard Keynes publish in 1919 about the treaty that ended the First World War? Answer: The Economic Consequences of the Peace. Source: Wikipedia: History of economic thought
  • Which economist, born in 1898, is named with Hayek at the Nobel Prize of 1974? Answer: Gunnar Myrdal. Source: Wikipedia: History of economic thought
  • Which field did a book by John von Neumann and Oskar Morgenstern found? Answer: Game theory. Source: Wikipedia: History of economic thought

The words of economics 11

  • In a well-known pair of goods that an economy may choose between, what is set against "guns"? Answer: Butter. Source: Wikipedia: Economics
  • Labor, capital and land are three factors of production. What is the fourth? Answer: Enterprise. Source: Wikipedia: Economics
  • National defense is a standard example of which kind of good? Answer: A public good. Source: Wikipedia: Economics
  • Positive economics describes "what is". What does normative economics do? Answer: It advocates "what ought to be". Source: Wikipedia: Economics
  • Social costs or benefits that market prices do not reflect, such as air pollution, are called what? Answer: Externalities. Source: Wikipedia: Economics
  • What is a market called in which there are only two sellers of a good? Answer: A duopoly. Source: Wikipedia: Economics
  • What is a market with few sellers called? Answer: An oligopoly. Source: Wikipedia: Economics
  • What was economics commonly called before the late 19th century? Answer: Political economy. Source: Wikipedia: Economics
  • Which branch looks at whole economies as systems of production, consumption, saving and investment? Answer: Macroeconomics. Source: Wikipedia: Economics
  • Which branch of economics looks at individual agents, such as households and firms, and their markets? Answer: Microeconomics. Source: Wikipedia: Economics
  • Who framed in 1932 what has been called the most commonly accepted definition of economics, in terms of ends and scarce means? Answer: Lionel Robbins. Source: Wikipedia: Economics
How this list was compiled

Written for this site; nothing was copied from another list. Questions and wrong choices are our own. Each explanation restates, in our own sentences, a fact from the English Wikipedia article named and linked beside the question (https://en.wikipedia.org, text under the Creative Commons Attribution-ShareAlike 4.0 license): History of economic thought and Economics. The text of each article was fetched on October 2 or 3, 2026, and on October 3, 2026 the passage that states each fact was read in it before the question was kept. The questions are the history of the subject and its vocabulary. Left out on purpose: anything that reads as advice about money, current figures (prices, growth, debt), forecasts, living economists as answers, judgments on which school is right, and titles of books still in copyright. Levels are our estimate: easy is fair for any table, medium suits people who know the subject, hard will stump most tables. Each question also carries the date its article was read (checkedOn). Licence: own work