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100+ Free Praxis Economics Practice Questions

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An automatic stabilizer in fiscal policy is best illustrated by

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Key Facts: Praxis Economics Exam

110

Official Selected-Response Questions

ETS Praxis Economics (5911) test page

2 hours

Testing Time

ETS Praxis Economics (5911) test page

$130

Test Fee

ETS Praxis fee schedule

152

ETS Median Scaled Score

ETS Praxis score information

100

Free Practice Questions Here

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ETS Praxis Economics (5911) test page

ETS lists Praxis Economics (5911) as a 110-question selected-response test administered in 2 hours with no calculator, aligned to the Council for Economic Education Voluntary National Standards. Microeconomics carries the largest share, followed by macroeconomics, then fundamental economic concepts. Passing scores are set by states; ETS reports a median scaled score of 152. This free bank provides 100 practice questions with full explanations.

Sample Praxis Economics Practice Questions

Try these sample questions to test your Praxis Economics exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which statement best defines the economic concept of scarcity?
A.Some goods are rare and expensive to produce
B.A shortage caused by a price ceiling set below equilibrium
C.Society's wants are unlimited but resources are limited
D.The total amount of money in an economy is fixed
Explanation: Scarcity is the fundamental economic problem: human wants exceed the limited resources available to satisfy them. Because resources are finite, every society must make choices about what to produce and for whom.
2A student spends an afternoon studying instead of working a $40 shift. What is the opportunity cost of studying?
A.The improved grade the student expects
B.Zero, because studying is free
C.The combined value of the grade and the wages
D.The $40 in forgone wages from not working
Explanation: Opportunity cost is the value of the next-best alternative given up. Because the student would otherwise have earned $40, that forgone wage is the opportunity cost of choosing to study.
3A firm decides to hire one more worker only if the additional revenue the worker generates exceeds the additional wage cost. This decision rule is an example of
A.marginal analysis
B.sunk-cost reasoning
C.the law of demand
D.absolute advantage
Explanation: Marginal analysis compares the additional (marginal) benefit of an action with its additional (marginal) cost. Rational decision-makers take an action when marginal benefit exceeds marginal cost.
4Which of the following is classified as the factor of production called "capital"?
A.The cash a business keeps in its bank account
B.A worker's years of formal education
C.A delivery truck used to transport goods
D.The land beneath a factory
Explanation: In economics, capital refers to manufactured goods used to produce other goods and services, such as machinery, tools, and equipment. A delivery truck is physical (real) capital.
5In a pure market economy, the central question of "What goods will be produced?" is primarily answered by
A.the price signals generated by buyers and sellers
B.a central planning agency
C.tradition passed down through generations
D.majority vote in the legislature
Explanation: In a market economy, decentralized decisions by consumers and producers, communicated through prices and the profit motive, determine what is produced. Resources flow toward goods consumers are willing to pay for.
6An economy is operating at a point INSIDE its production possibilities curve. This indicates that the economy is
A.experiencing unemployment or other resource underutilization
B.producing efficiently and using all resources fully
C.achieving an unattainable level of output
D.growing faster than its long-run trend
Explanation: Points inside the production possibilities curve represent inefficient use of resources, such as unemployed labor or idle capital. The economy could produce more of both goods by fully employing its resources.
7Along a bowed-outward (concave) production possibilities curve, moving more resources into producing one good results in
A.a constant opportunity cost for each additional unit
B.a decreasing opportunity cost for each additional unit
C.an increasing opportunity cost for each additional unit
D.zero opportunity cost because both goods can expand
Explanation: A curve that bows outward from the origin reflects the law of increasing opportunity cost. As production of one good rises, resources less suited to that good must be used, so each additional unit costs more in terms of the other good forgone.
8Country A can produce either 100 bushels of wheat or 50 barrels of oil with its resources. The opportunity cost of producing 1 barrel of oil in Country A is
A.2 bushels of wheat
B.0.5 bushels of wheat
C.50 bushels of wheat
D.1 bushel of wheat
Explanation: Giving up all wheat (100 bushels) yields 50 barrels of oil, so 100 bushels divided by 50 barrels equals 2 bushels of wheat per barrel of oil. Opportunity cost is the ratio of what is given up to what is gained.
9A country has a comparative advantage in producing a good when it can produce that good at a
A.higher total output than any other country
B.lower wage rate than other countries
C.lower opportunity cost than other countries
D.larger quantity using more workers
Explanation: Comparative advantage is based on opportunity cost: a country has it when it can produce a good by giving up fewer units of other goods than its trading partner. This is the basis for mutually beneficial specialization and trade.
10Which scenario best illustrates the role of incentives in economic behavior?
A.A tax credit for buying electric vehicles increases their sales
B.A government bans the sale of a product entirely
C.A natural disaster destroys part of the capital stock
D.Population grows because of higher birth rates
Explanation: Incentives are rewards or penalties that influence behavior. A tax credit lowers the effective price of electric vehicles, encouraging more people to buy them, which demonstrates how people respond to incentives.

About the Praxis Economics Exam

Praxis Economics (5911) is the ETS subject assessment used by many states to certify K-12 economics teachers. The exam is built on the Council for Economic Education Voluntary National Standards and covers fundamental economic concepts, microeconomics, and macroeconomics through 110 selected-response questions in a 2-hour session with no calculator.

Assessment

110 selected-response (official ETS); this practice bank is 100 selected-response items

Time Limit

2 hours

Passing Score

Varies by state (ETS median 152)

Exam Fee

$130 (ETS (Educational Testing Service))

Praxis Economics Exam Content Outline

20%

Fundamental Economic Concepts

Scarcity, opportunity cost, marginal analysis, incentives, factors of production, economic systems, the production possibilities curve, trade and specialization, and comparative advantage.

45%

Microeconomics

Supply and demand, elasticity, consumer and producer surplus, market equilibrium, price controls, market structures (perfect competition, monopoly, oligopoly, monopolistic competition), factor markets, market failure and externalities, public goods, and government intervention.

35%

Macroeconomics

GDP and measurement, unemployment, inflation and the CPI, the business cycle, aggregate demand and supply, fiscal policy, monetary policy and the Federal Reserve, money and banking, economic growth, and international trade and exchange rates.

How to Pass the Praxis Economics Exam

What You Need to Know

  • Passing score: Varies by state (ETS median 152)
  • Assessment: 110 selected-response (official ETS); this practice bank is 100 selected-response items
  • Time limit: 2 hours
  • Exam fee: $130

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

Praxis Economics Study Tips from Top Performers

1Weight your study time toward microeconomics, the largest content category, especially supply and demand, elasticity, market structures, and surplus.
2Practice graph reasoning out loud: be able to explain shifts versus movements along curves, since the exam tests this repeatedly without a calculator.
3Keep numbers simple; no calculator is allowed, so master the relationships and per-unit reasoning rather than memorizing complex computations.
4Master the macro policy distinctions: fiscal policy versus monetary policy, expansionary versus contractionary, and which institution controls each tool.
5Review misses by content category (fundamental, micro, macro) and by error type such as definition, graph reading, or policy effect.

Frequently Asked Questions

How many questions are on Praxis Economics (5911)?

ETS lists the official Praxis Economics (5911) test as 110 selected-response questions administered in a 2-hour session. This free practice bank provides 100 selected-response items with full explanations modeled on the same content categories.

How long is the Praxis Economics 5911 exam and is a calculator allowed?

The official exam allows 2 hours of testing time, and no calculator is permitted. Quantitative items use simple numbers, so focus on understanding economic relationships and graph reasoning rather than heavy computation.

What passing score do I need on Praxis 5911?

ETS does not set a single national passing score for Praxis Economics. States and licensing agencies set their own qualifying scores; ETS reports a median scaled score of 152. Confirm the exact cut score required in your state before registering.

What content is on the Praxis Economics 5911 exam?

The exam is based on the Council for Economic Education Voluntary National Standards and covers fundamental economic concepts, microeconomics (the largest portion), and macroeconomics. Expect supply and demand, elasticity, market structures, GDP, inflation, unemployment, and fiscal and monetary policy.

How much does Praxis Economics 5911 cost?

ETS lists the Praxis Economics (5911) test fee at $130. Your final checkout total can vary if you add optional services, so confirm the amount in your ETS account before payment.