Home Quiz Take an Interesting Quiz on "Microeconomics"
Preview (10 questions)
1 Question
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Q.


Which is not an example of uses of personal income in a household?



Salary

Bank Loans

Savings

Personal Tax
2 Question
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Q.

 

What type of entity owns a legal entity separate and distinct from its owners?



A corporation

Business center

Government

Private center
3 Question
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Q.


Which type of economic decision-maker plays an important role in a market economy?



Government

Household

Customer

Buyers and Sellers
4 Question
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Q.


What types of costs are incurred in variable factor inputs?



1

6

5

2
5 Question
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Q.


What represents the cost that must be paid even if output varies and output is zero?



Customer cost

Buyer cost

Seller cost

Fixed cost
6 Question
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Q.


Which of the following is a part of microeconomics?




National income

Factor pricing

Both a and b are correct

Both a and b are incorrect
7 Question
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Q.


Which is a fixed cost that has already been incurred and cannot be recovered?



Sunk cost

Variable cost

Fixed cost

Marginal cost
8 Question
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Q.


What is the relationship between the price of a product and the quantity sold at that price?



Tax

Profit

Supply

Demand
9 Question
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Q.


Which branch of economics deals with the allocation of resources?



Macroeconomics

Microeconomics

Econometrics

None of the mentioned
10 Question
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Q.


Say True or False


The formula for calculating average variable cost is total variable cost is divided by the number of variable costs.


False

True