Test Your Knowledge On Microeconomics
24 Questions
| Total Attempts: 72
The study of microeconomics takes a look at some of the decisions made by individuals and firms with regards to scarce resources like money, goods and services. Many would agree that figuring out what to do with a little is much harder than figuring out what to do with a lot. Do you know how the study operates? Take the following quiz to see if you can tell us all about microeconomics.
Questions and Answers
- 1.Total physical product
- 2.Diminishing marginal returns
- 3.Ecomomics of scale
- 4.Economic costs
- 5.Accounting costs
- 6.Supply rule
- 7.Cartel
- 8.Kinked demand
- 9.Non-price competition
- 10.Product differentiation
- 11.Collusion
- 12.Price discrimination
- 13.Shutdown point
- 14.TC=TFC+TVCTFC=TC-TVCTVC=TC-TFCATC=TC/QAVC=TVC/QAFC=TFC/QMC=CHANGE IN TC/CHANGE IN Q
- 15.Perfectly competitive market
- 16.Oligopoly
- 17.Monopoly
- 18.Myhts of monopolies
- 19.GDP
- 20.DEFICIT
- 21.DEBT
- 22.TRADE DEFICIT
- 23.UNEMPLOYMENT RATE
- 24.GOVERNMENT BUDGET
If you are an economics student, then you must know that economics is all about supply, demand, and maximizing income, be it in a business or a country. Have you been having a hard time revising for your microeconomics course...
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Sample QuestionWhat Microeconomics is about?
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Sample QuestionWhich of the following best describes the three fundamental economic questions?
Microeconomics is a division of economics that studies individuals' and firms' behavior in making decisions regarding the distribution of scarce resources and the interactions among these entities and corporations. The...
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