On This Page

This set of Principles of Micro Economics Multiple Choice Questions & Answers (MCQs) focuses on Principles Of Micro Economics Set 1

Q1 | The curve showing the possibilities of production of desired good is known as:
Q2 | Which one of the following definition of Economics is associated with the nameof Lionel Robbins?
Q3 | A hypothesis is tested by:
Q4 | In a free enterprise economy, the problems of what, how and for whom toproduce are solved by :
Q5 | Who considered Political Economy as “an enquiry into the nature and causes ofthe wealth of nations”?
Q6 | Which of the following definitions of Economics include the economic conceptof ‘scales of Preferences’?
Q7 | Which of the following embodies a more widely accepted definition ofeconomics?
Q8 | The fundamental problem faced by an economy is one of :
Q9 | Production possibilities curve does not show:
Q10 | State whether Economics is :
Q11 | Who of the following emphasized the normative aspect of Economics as ascience?
Q12 | Of the following economists who is considered as master of partial analysis?
Q13 | Which of the following statements has been drawn by inductive method?
Q14 | What is true for deductive method?
Q15 | What is true for inductive method?
Q16 | Find out the correct statement:
Q17 | Micro economic theory studies how a free enterprise economy determines:
Q18 | Which aspect of taxation involves normative economics?
Q19 | Microeconomics deals primarily with:
Q20 | Which of the following is incorrect?
Q21 | Which of the following statements is most closely associated with generalequilibrium analysis?
Q22 | The meaning of the word ‘economic’ is most closely associated with the word:
Q23 | The market equilibrium for a commodity is determined by
Q24 | Microeconomics studies the decision making behavior of:
Q25 | The word micro was first used in Economics by: