Economic Theories Explained

Test your understanding of the major economic theories covered in the video

Business mixed 8 Questions Video Quiz
Progress 0 / 8
Q1 Beginner 1 pts

According to classical economics, what is the role of government in the economy? Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone..."

Timestamp: 0:10

Q2 Intermediate 2 pts

What is the core idea behind Marxian economics? Video Reference:
"at the heart of marxian Economics is the labor theory of value the idea that a product's True Value ..."

Timestamp: 1:00

Q3 Intermediate 2 pts

What is the key insight of Keynesian economics during a recession? Video Reference:
"his key Insight during a recession people and businesses get scared people save more businesses inve..."

Timestamp: 2:30

Q4 Beginner 1 pts

True or false: Neoclassical economics introduced the idea that value comes from the human labor put into a product. Video Reference:
"unlike classical or marxian economists who thought value came from labor neoclassicals introduced ma..."

Timestamp: 1:40

Q5 Advanced 3 pts

Which of the following are key ideas in game theory? (Select all that apply) Video Reference:
"Game Theory asks a different question how do people behave when their success depends on others choi..."

Timestamp: 2:00

Select all correct answers
Q6 Intermediate 2 pts

True or false: Supply-side economics argues that tax cuts will pay for themselves by boosting economic growth. Video Reference:
"remember the 1980s when Reagan promised that tax cuts would pay for themselves that's supply side ec..."

Timestamp: 3:00

Q7 Intermediate 2 pts

Which of the following are key principles of classical economics? (Select all that apply) Video Reference:
"classical economics picture an economy as a massive machine that runs best when left alone this is t..."

Timestamp: 0:10

Select all correct answers
Q8 Advanced 3 pts

What is the key insight of Marxian economics regarding the nature of capitalism? Video Reference:
"Marx saw this as an inherent feature of capitalism not a bug like a pressure cooker building steam h..."

Timestamp: 1:20

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