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


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



Salary

Bank Loans

Savings

Personal Tax
2 Question
30 seconds
Q.

 

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



A corporation

Business center

Government

Private center
3 Question
30 seconds
Q.


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



Government

Household

Customer

Buyers and Sellers
4 Question
30 seconds
Q.


What types of costs are incurred in variable factor inputs?



1

6

5

2
5 Question
30 seconds
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
30 seconds
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
30 seconds
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
30 seconds
Q.


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



Tax

Profit

Supply

Demand
9 Question
30 seconds
Q.


Which branch of economics deals with the allocation of resources?



Macroeconomics

Microeconomics

Econometrics

None of the mentioned
10 Question
30 seconds
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