Neoclassical Economics: Definition, Theory & Model - Quiz & Worksheet


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What is neoclassical economics?

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1. Which of the following is NOT a tenet of the neoclassical theory?

2. According to the neoclassical theory, when is market equilibrium achieved?

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About This Quiz & Worksheet

These tools will test you on the theory and history of neoclassical economics. Quiz questions will cover fundamental definitions and principles of neoclassical economics, as well as associated theorists.

Quiz & Worksheet Goals

This quiz will evaluate your comprehension of:

  • Market equilibrium
  • The origins of neoclassical economics
  • Essential ideas of neoclassical economics
  • The significance of the root 'neo'

Skills Practiced

  • Critical thinking - apply relevant concepts to examine information about economics in a different light
  • Identifying key people - ensure that you can accurately identify the theorists responsible for the development of neoclassical economics
  • Distinguishing differences - compare and contrast topics from the lesson, such as neoclassical economics and classical economics

Additional Learning

For a more in depth look at neoclassical economics, see the lesson called Neoclassical Economics: Definition, Theory, & Model. This lesson will answer the following questions:

  • How is supply and demand relevant to neoclassical economics
  • What does the neoclassical model look like in diagram form
  • Which theorists elaborated upon the basic foundation of neoclassical economics