Economics Trivia
Economics trivia explores how people have explained trade, prices, work, and wealth from the ancient world to modern financial systems. From Adam Smith and Karl Marx to inflation, recessions, and central banks, it offers a lively way to connect big economic concepts to real-world decisions and events.
Easy Economics Trivia
13 questions
These easy Economics trivia questions are great for beginners and kids around age 12 and under.
Question 1
Which book did Adam Smith publish in 1776?
Answer: The Wealth of Nations
Adam Smith published "The Wealth of Nations" in 1776.
Question 2
John Maynard Keynes wrote which famous economics book in 1936?
Answer: The General Theory of Employment, Interest and Money
Keynes wrote "The General Theory of Employment, Interest and Money" in 1936.
Question 3
Karl Marx is the author of what major economic work?
Answer: Das Kapital
Karl Marx authored "Das Kapital.".
Question 4
What is the central bank of the United States called?
Answer: The Federal Reserve
The Federal Reserve serves is the central bank of the United States.
Question 5
The European Central Bank is based in which city?
Answer: Frankfurt
The European Central Bank is based in Frankfurt.
Question 6
Which organization has its headquarters in Washington, D.C.: the World Bank, the WTO, or the ECB?
Answer: The World Bank
The World Bank has headquarters in Washington, D.C.
Question 7
Which major financial institution is headquartered in Washington, D.C. and often shortened to IMF?
Answer: The International Monetary Fund
The International Monetary Fund is headquartered in Washington, D.C.
Question 8
What organization is headquartered in Geneva?
Answer: The World Trade Organization
The World Trade Organization is headquartered in Geneva.
Question 9
Milton Friedman was a leading advocate of which economic idea?
Answer: Monetarism
Milton Friedman was a leading advocate of monetarism.
Question 10
David Ricardo is closely associated with what theory?
Answer: Comparative advantage
David Ricardo is associated with the theory of comparative advantage.
Question 11
The Laffer Curve is associated with which economist?
Answer: Arthur Laffer
The Laffer Curve is associated with Arthur Laffer.
Question 12
Who won the Nobel Prize in Economic Sciences in 2002?
Answer: Daniel Kahneman
Daniel Kahneman won the Nobel Prize in Economic Sciences in 2002.
Question 13
Which economist received the Nobel Prize in Economic Sciences in 1998?
Answer: Amartya Sen
Amartya Sen won the Nobel Prize in Economic Sciences in 1998.
Economics Family Trivia
12 questions
These family Economics trivia questions are built for mixed-age game nights, classrooms, and groups.
Question 1
In what year was the euro first introduced for electronic transactions?
Answer: 1999
The euro began is an electronic currency in 1999, before cash entered circulation later.
Question 2
Euro banknotes and coins started being used by the public in which year?
- A.2002
- B.1999
- C.2001
- D.2004
Answer: 2002
Although the euro was introduced electronically in 1999, physical notes and coins entered circulation in 2002.
Question 3
Which city is one of the world's busiest container ports?
- A.Basel
- B.Hong Kong
- C.London
- D.Singapore
Answer: Singapore
Singapore is famous for being one of the busiest container ports in the world.
Question 4
What place is widely known as a major global financial center: Hong Kong, Basel, or Singapore?
- A.Basel
- B.Singapore
- C.Canary Wharf
- D.Hong Kong
Answer: Hong Kong
Hong Kong is widely recognized is a major global financial center.
Question 5
The Bank for International Settlements is based in which city?
Answer: Basel
Basel is home to the Bank for International Settlements.
Question 6
Which London district is a major financial hub?
Answer: Canary Wharf
Canary Wharf is one of London's major financial districts.
Question 7
Who wrote the economics textbook "Principles of Economics"?
Answer: Alfred Marshall
Alfred Marshall wrote the influential textbook "Principles of Economics.".
Question 8
Which economist wrote the textbook simply titled "Economics"?
Answer: Paul Samuelson
Paul Samuelson wrote the influential textbook "Economics.".
Question 9
Who popularized the term "creative destruction"?
Answer: Joseph Schumpeter
The term "creative destruction" is closely associated with Joseph Schumpeter.
Question 10
Who developed the equation of exchange written as MV = PT?
Answer: Irving Fisher
Irving Fisher developed the equation of exchange MV = PT.
Question 11
Which organization publishes the Human Development Report?
Answer: United Nations Development Programme
The Human Development Report is published by the United Nations Development Programme.
Question 12
What is the name of the IMF publication mentioned in this fact set?
Answer: World Economic Outlook
The IMF publishes the "World Economic Outlook.".
Fun Economics Trivia
13 questions
These fun Economics trivia questions highlight surprising moments and playful facts for game-night groups.
Question 1
Before Monopoly became the king of family feuds, it was inspired in part by what earlier game?
Answer: The earlier game was "The Landlord's Game."
Monopoly was inspired in part by an earlier game called "The Landlord's Game.".
Question 2
What food often arrives as triangles tucked inside a square box?
Answer: Pizza.
Pizza is often sold in triangular slices but usually delivered in a square box.
Question 3
Which cheeky purchasing-power comparison was created by The Economist in 1986?
Answer: The Big Mac Index.
The Big Mac Index was created by The Economist in 1986.
Question 4
What informal indicator links cosmetic sales to chatter about economic downturns?
Answer: The lipstick index.
The informal "lipstick index" links cosmetic sales to economic downturn chatter.
Question 5
In economics, the so-called Walrasian auctioneer is best described as what?
- A.A thought experiment, not a real exchange-floor official.
- B.A 19th-century stockbroker
- C.A central bank inspector
- D.A real commodities referee
Answer: A thought experiment, not a real exchange-floor official.
Walrasian auctioneers are a thought experiment rather than real exchange-floor officials.
Question 6
Which famous game theory setup sounds like a crime drama but lives in economics textbooks?
Answer: The Prisoner's Dilemma.
The Prisoner's Dilemma is a famous game theory scenario.
Question 7
Who shared the 1994 Nobel Prize in Economic Sciences?
Answer: John Nash.
John Nash shared the 1994 Nobel Prize in Economic Sciences.
Question 8
Which curve was once proposed to show an inverse relationship between unemployment and inflation?
Answer: The Phillips curve.
The Phillips curve describes an inverse relationship once proposed between unemployment and inflation.
Question 9
The production function named after Charles Cobb and Paul Douglas goes by what hyphenated name?
Answer: The Cobb-Douglas production function.
The Cobb-Douglas production function was named after Charles Cobb and Paul Douglas.
Question 10
Okun's law gets its name from which economist?
Answer: Arthur Okun.
Okun's law is named after economist Arthur Okun.
Question 11
What measure tracks income inequality on a scale running from 0 to 1?
Answer: The Gini coefficient.
The Gini coefficient measures income inequality on a scale from 0 to 1.
Question 12
Which curve is used to illustrate inequality?
Answer: The Lorenz curve.
The Lorenz curve is used to illustrate inequality.
Question 13
Pareto efficiency takes its name from which economist?
Answer: Vilfredo Pareto.
Pareto efficiency is named after Vilfredo Pareto.
Funny Economics Trivia
13 questions
These funny Economics trivia questions highlight playful moments, odd facts, and inside jokes.
Question 1
When prices climb and shoppers suddenly act like every item is optional, which economic rule says quantity demanded usually falls as price rises?
- A.Opportunity cost
- B.law of demand
- C.The law of supply
- D.Inflation
Answer: The law of demand.
The law of demand states that, usually, when price rises, quantity demanded falls.
Question 2
If higher prices make producers feel oddly motivated to make more stuff, what rule says quantity supplied usually rises when price rises?
- A.The misery index
- B.The gold standard
- C.law of supply
- D.The law of demand
Answer: The law of supply.
The law of supply says that, usually, higher prices are associated with a greater quantity supplied.
Question 3
What do economists call a sustained increase in the general price level, also known as the reason your grocery bill seems to have ambitions?
- A.Stagflation
- B.inflation
- C.Deflation
- D.Recession
Answer: Inflation.
Inflation is defined is a sustained increase in the general price level.
Question 4
If the general price level keeps falling instead of rising, what is that called?
- A.Hyperinflation
- B.Stagflation
- C.deflation
- D.Inflation
Answer: Deflation.
Deflation is a sustained decrease in the general price level.
Question 5
In what year did hyperinflation in Weimar Germany hit its peak, turning price tags into speed-writing practice?
- A.1923
- B.1918
- C.1920
- D.1929
Answer: 1923.
Hyperinflation in Weimar Germany peaked in 1923.
Question 6
Zimbabwe once issued a banknote so large it sounds made up. What was it?
- A.A 1 trillion dollar banknote
- B.A 10 billion dollar banknote
- C.A 500 billion dollar banknote
- D.100 trillion dollar banknote
Answer: A 100 trillion dollar banknote.
Zimbabwe issued a 100 trillion dollar banknote in 2008.
Question 7
What year did Zimbabwe issue its famous 100 trillion dollar banknote?
- A.2018
- B.2008
- C.2003
- D.2010
Answer: 2008.
Zimbabwe issued the 100 trillion dollar banknote in 2008.
Question 8
Venezuela gave its currency a fresh name tag by creating the sovereign bolĂvar. In what year did that redenomination happen?
- A.2021
- B.2018
- C.2008
- D.2016
Answer: 2018.
Venezuela redenominated its currency in 2018, creating the sovereign bolĂvar.
Question 9
Which digital currency was introduced in a 2008 white paper under the name Satoshi Nakamoto?
- A.The sovereign bolĂvar
- B.Bitcoin
- C.Ethereum
- D.Dogecoin
Answer: Bitcoin.
Bitcoin was introduced in a 2008 white paper under the name Satoshi Nakamoto.
Question 10
Under what name was the 2008 white paper introducing Bitcoin released?
- A.Satoshi Nakamoto
- B.Eugene Fama
- C.John Law
- D.El Salvador
Answer: Satoshi Nakamoto.
Bitcoin was introduced in a 2008 white paper under the name Satoshi Nakamoto.
Question 11
Which country made Bitcoin legal tender in 2021, ensuring economics professors had at least one dramatic new slide?
- A.Germany
- B.El Salvador
- C.Venezuela
- D.Zimbabwe
Answer: El Salvador.
El Salvador adopted Bitcoin is legal tender in 2021.
Question 12
The Dutch once turned flowers into finance folklore. During which decade did tulip mania occur?
Answer: The 1630s.
The Dutch tulip mania occurred during the 1630s.
Question 13
What year did the South Sea Bubble burst, proving bubbles hate long-term commitments?
- A.1720
- B.1630
- C.1707
- D.1929
Answer: 1720.
The South Sea Bubble burst in 1720.
Hard Economics Trivia
14 questions
These hard Economics trivia questions are for expert fans who want a real challenge.
Question 1
In what year was the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel awarded for the first time?
Answer: 1969
The economics prize was first awarded in 1969.
Question 2
Which economist is named in the fact that Ragnar Frisch and Jan Tinbergen shared the first Nobel Prize in Economic Sciences?
- A.Kenneth Arrow
- B.GĂ©rard Debreu
- C.Ragnar Frisch
- D.Jan Tinbergen
Answer: Ragnar Frisch
The fact states that Ragnar Frisch and Jan Tinbergen shared the first economics Nobel; Ragnar Frisch is one of them.
Question 3
Ronald Coase wrote a famous 1960 work. What was its title?
Answer: The Problem of Social Cost
Ronald Coase wrote "The Problem of Social Cost" in 1960.
Question 4
The theorem bearing Ronald Coase's name is called what?
Answer: The Coase theorem
The fact explicitly says the Coase theorem is named after Ronald Coase.
Question 5
Vilfredo Pareto succeeded LĂ©on Walras at which university?
Answer: University of Lausanne
Pareto succeeded Walras at the University of Lausanne.
Question 6
Name the economist who shared the Nobel Prize in Economic Sciences in 1972.?
Answer: Kenneth Arrow
Kenneth Arrow is a 1972 economics Nobel co-laureate.
Question 7
What theorem in economics concerns ranked voting systems?
Answer: Arrow impossibility theorem
The fact states that the Arrow impossibility theorem concerns ranked voting systems.
Question 8
One of the two economists who shared the 2011 Nobel Prize in Economic Sciences was Thomas Sargent. Name him.?
Answer: Thomas Sargent
Thomas Sargent shared the 2011 economics Nobel.
Question 9
Who became the first woman to win the Nobel Prize in Economic Sciences in 2009?
Answer: Elinor Ostrom
Elinor Ostrom became the first woman to win the economics Nobel in 2009.
Question 10
Which economist shared the 2009 Nobel Prize in Economic Sciences alongside the year in which Elinor Ostrom made history?
Answer: Oliver Williamson
Oliver Williamson is a 2009 economics Nobel co-laureate.
Question 11
In the 2012 Nobel Prize in Economic Sciences duo, which laureate was Alvin Roth?
Answer: Alvin Roth
Alvin Roth shared the 2012 economics Nobel.
Question 12
Which economist shared the Nobel Prize in Economic Sciences in 2012 with Alvin Roth?
Answer: Lloyd Shapley
Lloyd Shapley is sharing the 2012 economics Nobel.
Question 13
Who shared the Nobel Prize in Economic Sciences in 2018 alongside William Nordhaus?
Answer: Paul Romer
Paul Romer shared the 2018 economics Nobel.
Question 14
Which economist shared the 2018 Nobel Prize in Economic Sciences with Paul Romer?
Answer: William Nordhaus
William Nordhaus shared the 2018 economics Nobel.
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