Sciences Po and Grandes Ecoles Entrance Practice · Economics and Society

Economic Concepts

15 practice questions, each with the answer and an explanation.

Practise Economic Concepts now

Random questions from this topic, one at a time. You see the answer and the explanation straight after each one.

All 15 questions

  1. What happens to the price of a good when demand rises and supply stays the same?
  2. What is fiscal policy?
  3. What does inflation measure?
  4. What does GDP stand for?
  5. What is the main task of a central bank such as the ECB?
  6. What is the difference between a budget deficit and public debt?
  7. What is an externality?
  8. What does the Gini coefficient measure?
  9. What is a monopoly in economics?
  10. What does comparative advantage mean?
  11. What is the trade balance?
  12. What is unemployment according to the International Labour Organization?
  13. What is a public good?
  14. Which three dimensions does the Human Development Index combine?
  15. What is a recession usually defined as?

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