Principles Of Micro Economics Set 2

Bachelor of Arts in Economics (BA Economics)

Practice Mode Previous Next
On This Page

This set of Principles of Micro Economics Multiple Choice Questions & Answers (MCQs) focuses on Principles Of Micro Economics Set 2

Q1 | A function refers to :
  • the demand for a commodity
  • the supply of a commodity
  • the demand and supply of a commodity service or resource
  • the relationship between one dependent variable and one or more independent variables.
Answer: the relationship between one dependent variable and one or more independent variables.
Q2 | The validity of an economic theory is judged by its power to:
  • explain an economic phenomenon
  • predict the course of an economic phenomenon
  • prove or disprove a hypothesis
  • reveal the economic laws
Answer: explain an economic phenomenon
Q3 | The subject matter of economics is the study of:
  • wealth
  • welfare
  • scarcity
  • scarcity and choice
Answer: scarcity and choice
Q4 | To whom do you attribute the ‘growth’ definition of economics?
  • paul samuelson
  • lionel robbins
  • milton friedman
  • alfred marshall
Answer: paul samuelson
Q5 | The first economist who coined the terms micro economics andmacroeconomics
  • ragnar frisch
  • keynes
  • marshall
  • friedman
Answer: ragnar frisch
Q6 | Microeconomics deals with:
  • the theory of factor pricing
  • the theory of product pricing
  • the theory of economic welfare
  • all the above
Answer: all the above
Q7 | Prof. Robbin’s definition of Economics is:
  • scarcity definition
  • growth definition
  • welath definition
  • welfare definition
Answer: scarcity definition
Q8 | A theory is:
  • an assumption
  • a validated hypothesis
  • an ‘if then’ proposition
  • a hypothesis
Answer: a validated hypothesis
Q9 | The book ‘Principles of Economics’ was written by:
  • keynes
  • marshall
  • samuelson
  • pigou
Answer: marshall
Q10 | Average revenue is :
  • tr - tc
  • tr / no. of units sold
  • tc / tr
  • mc / ar
Answer: tr / no. of units sold
Q11 | A hypothesis is a :
  • statement of facts
  • statement of observations made by a researcher
  • statement of expected out of research
  • a proposition the validity of which is to be tested
Answer: a proposition the validity of which is to be tested
Q12 | In the classical system, the basic economic problems are solved by:
  • government
  • price mechanism
  • economists
  • central bank
Answer: price mechanism
Q13 | Growth definition of economics was concerned with:
  • scarcity
  • welfare
  • wealth
  • economic growth
Answer: economic growth
Q14 | A market:
  • necessarily refers to a meeting place between buyers and sellers
  • does not necessarily refer to a meeting place between buyers and sellers
  • extends over the entire nation
  • extends over a city.
Answer: does not necessarily refer to a meeting place between buyers and sellers
Q15 | The average fixed cost is obtained by :
  • tfc / q
  • mc / q
  • tac / q
  • avc / q
Answer: tfc / q
Q16 | Average Revenue curve under monopoly is :
  • upward slopping
  • downward slopping
  • horizontal straight line
  • none of these
Answer: downward slopping
Q17 | _______ investigations examine an individual’s relationship with andinteraction in society
  • natural science
  • physical science
  • life science
  • social science
Answer: social science
Q18 | In the 19th century _________ argued that ideas pass through three risingstages namely, Theological, Philosophical and Scientific.
  • auguste comte
  • b. plato
  • aristotle
  • socrates
Answer: auguste comte
Q19 | _________ is distinctive for much greater use of mathematics than the othersocial sciences, a development made possible by the development of a concept of utility
  • sociology
  • political science
  • economics
  • anthropology
Answer: economics
Q20 | The most important founder of German sociology, __________ , was keenly interested in maintaining the relationship between economics and sociology.
  • max adler
  • max weber
  • karl marx
  • joseph w. eaton
Answer: max weber
Q21 | International Social Science Associations were founded under the auspicesof___________
  • unesco
  • world bank
  • imf
  • usa
Answer: unesco
Q22 | ________ social science discipline deals with the integration of differentaspects of the Social Sciences, Humanities, and Human Biology
  • criminology
  • demography
  • geography
  • anthropology
Answer: anthropology
Q23 | Social science can help to appreciate the values enshrined in the IndianConstitution such as justice, liberty, equality and fraternity and the unity and integrity of the nation and the building of a socialist, secular and democratic society.
  • true
  • false
  • none
  • none
Answer: true
Q24 | ______is primarily done by observing or testing on real-life data or analysingthe pattern of some specific events in order to identify the nature or the class of trend that specific phenomenon maintains.
  • empirical research
  • action research
  • laboratory research
  • exploratory research
Answer: empirical research
Q25 | _____ has distinguished between different types of societies on basis of economic system.
  • joseph w. eaton
  • max webber
  • karl marx
  • alphons silbermann
Answer: karl marx
Previous Next