6 Questions |
By Einstein100 | Last updated: May 8, 2019
| Total Attempts: 244
You’ve faced quizzes on microeconomics before, but the following quiz on the subject that analyses the decisions made by a firm or individual on how to allocate scarce resources is going to be your biggest challenge yet. Take the quiz, answer the tough questions and find out once and for all if you have what it takes to make it in the world of microeconomics. Let’s see how well you do!
Questions and Answers
The central question in economics is
All Of The Above
A situation where one buyer buys all the available output from an industry is known as
None of the above
If marginal benefit is greater than marginal cost, a rational choice involves:
No more of the activity
More of the activity
Less of the activity
More or less of the activity, depending on other factors.
graph showing all the combinations of goods and services that can be
produced if all of society's resources are used efficiently is a:
Production Possibility Curve
Capital Consumption Frontier
None of the above
Which of the following is true of a perfectly contestable market?
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If the demand curve for good X is downward-sloping, an increase in the price will result in