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Table of Contents
MICROECONOMICS AND MICROECONOMICS MCQ
Question 1.
Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?
(a) Marshall
(b) Ricardo
(c) Ragnar Fresh
(d) None of these
Question 2.
Which of the following is studied under Micro Economics ?
(a) Individual unit
(b) Economic Aggregate
(c) National Income
(d) None of these
Question 3.
Which of the following economic activities are included in the subject-matter of Economics?
(a) Economic Activities related to Unlimited Wants
(b) Economic Activities related to Limited Resources
(c) Both (a) and (b)
(d) None of these
Question 4.
On which base structure of economic problems has been installed?
(a) Unlimited Wants
(b) Limited Resources
(c) Both (a) and (b)
(d) None of the above
Question 5.
‘Micros’, which means ‘Small’ belongs to:
(a) Arabian word
(b) Greek word
(c) German word
(d) English word
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Question 6.
Which of the following statement is true?
(a) Human wants are infinite
(b) Resources are limited
(c) Scarcity problem gives birth to choice .
(d) All of these
Question 7.
Which of the following is the salient feature of factors (or resources) ?
(a) These are limited as compared to wants
(b) These have alternative uses
(c) Both (a) and (b)
(d) None of the above
Question 8.
Which is a central problem of an economy ?
(a) Allocation of Resources
(b) Optimum Utilisation of Resources
(c) Economic Development
(d) All of these
Question 9.
Which of the following Is a type of economic activities ?
(a) Production
(b) Consumption
(c) Exchange and Investment
(d) All of these
Question 10.
To which factor, economic problem is basically related to:
(a) Choice
(b) Consumer’s Selection
(c) Firm Selection
(d) None of these
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Question 11.
Economy may be classified as:
(a) Capitalist
(b) Socialist
(c) Mixed
(d) All of these
Question 12.
Which economy has a co-existence of private and public sectors ?
(a) Capitalist
(b) Socialist
(c) Mixed
(d) None of these
Question 13.
The main objective of a socialist economy is…….
(a) Maximum production
(b) Economic freedom
(c) Earning profit
(d) Maximum public welfare
Question 14.
In which economy decisions are taken on the basis of price mechanism ?
(a) Socialist
(b) Capitalist
(c) Mixed
(d) All of these
Question 15.
The slope of a production possibility curve falls:
(a) From left to right
(b) From right to left
(c) From top to bottom
(d) From bottom to top
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Question 16.
Production Possibility Curve is:
(a) Concave to the axis
(b) Convex to the axis
(c) Parallel to the axis
(d) Vertical to the axis
Question 17.
Mention the name of the curve which shows economic problem:
(a) Production Curve
(b) Demand Curve
(c) Indifference Curve
(d) Production Possibility Curve
Question 18.
Which of the following is studied under Macro Economics ?
(a) National Income
(b) Full. Employment
(c) Total Production
(d) All of these
Question 19.
Which of the following Is a branch of Micro Economics ?
(a) Product Price Determination
(b) Factor Price Determination
(c) Economic Welfare
(d) All of these
Question 20.
Which of the following is a source of production ?
(a) Land
(b) Labour
(c) Capital
(d) All of these
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Question 21.
Who said, “Economics is a science of wealth.”
(a) Marshall
(b) Robbins
(c) Adam Smith
(d) J.K. Mehta
Question 22.
“Economics is a science of logic.’’ Who said it ?
(a) Hicks
(b) Keynes
(c) Robbins
(d) Marshall
Question 23.
Micro Economics includes:
(a) Individual unit
(b) Small units
(c) Individual price determination
(d) All of these
Question 24.
Who was the father of Economics ?
(a) I. B. Say
(b) Malthus
(c) Adam Smith
(d) Joan Robinson
Question 25.
Who gave the definition of Economics related to welfare ?
(a) Adam Smith
(b) Marshall
(c) Robbins
(d) Samuelson
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Question 26.
The word ‘micro’ was firstly used by:
(a) Marshall
(b) Boulding
(c) Keynes
(d) Ragnar Frish
Question 27.
According to whom, Economics is a science of human welfare ?
(a) A Marshall
(b) Paul Samuelson
(c) J. S. Mill
(d) Adam Smith
Question 28.
Which of the following is not a factor of production ?
(a) Land
(b) Labour
(c) Money
(d) Capital
Question 29.
The central problem of an economy is:
(a) What to produce ?
(b) How to produce ?
(c) How to distribute produced goods ?
(d) All of these
Question 30.
Consumer behaviour is studied in:
(a) Micro Economics
(b) Income Theory
(c) Mac o Economics
(d) None of these
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Question 31.
Indian economy is:
(a) Centrally planned economy
(b) Market economy
(c) Mixed economy
(d) None of these.
Question 32.
Who used the word ‘micro’ for the first time:
(a) Marshall
(b) Boulding
(c) Keynes
(d) Ragnar Frisch
Question 33.
Who said economics is the ‘Science of wealth:
(a) Prof. Robbins
(b) Prof. J.K. Mehta
(c) Prof. Marshall
(d) Prof. Adam Smith
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ANSWER KEY
| 1.D | 11. D | 21. C | 31. C |
| 2.D | 12. C | 22. C | 32. D |
| 3.C | 13. D | 23. D | 33. D |
| 4.C | 14. B | 24. C | |
| 5.B | 15. C | 25. B | |
| 6.C | 16. A | 26. D | |
| 7.C | 17. D | 27.A | |
| 8.D | 18. D | 28. C | |
| 9.D | 19. D | 29. D | |
| 10.A | 20. D | 30. A |
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ALSO VISIT :MCQ ON PRODUCTION AND COST
SUPPLY AND ELASTICITY OF SUPPLY MCQ CLASS 12
MCQ ON CONSUMER BEHAVIOR WITH ANSWERS
ELASTICITY OF DEMAND MCQ CLASS 12
THEORY OF DEMAND FOR CLASS 11 MCQs
DOWNLOAD MOBILE APPLICATION TO LEARN MORE: MICROECONOMICS AND MICROECONOMICS MCQ
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