The topic of the questions in this test are based on standard introductory level microeconomics textbook. For my class I am using Krugman & Wells’ Economics textbook. This test is based on theory provided in Topic 5: Price Controls and Quotas. There are 30 questions in this test. You have maximum of 5 minutes to answer each question. Good luck!

Economics, Microeconomics, Introductory Microeconomics, Price controls, Quantity controls, Price ceiling, Price floor, Quotas