( Best 300+ ) Micro Economics MCQ

by Mr. DJ

Micro Economics MCQ

Micro Economics MCQ Definition: Microeconomics is the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.

Micro Economics MCQ

141. Indifference Approach is related with:
A. Marshall
B. J.R. Hicks
C. Samuelson
D. Sismondi


142. Which one of the following is an example of close substitute:
A. Tea and Coffee
B. Milk and water
C. Bread and Butter
D. Pen and pencil

143. The addition to the total revenue by the sale of an additional unit is:
A. Total revenue
B. Average revenue
C. Value added
D. Marginal revenue


144. Which cost is to be incurred by a firm even if output is zero:
A. Opportunity cost
B. Fixed cost
C. Variable Cost
D. Total cost

145. The marginal utility theory is contributed by:
A. Marshall
B. David Ricardo
C. Adam Smith
D. Samuelson

146. The factor earning of entrepreneur is:
A. Rent
B. Wage
C. Interest
D. Profit


147. The Scarcity definition of Economics is the contribution of:
A. Samuelson
B. Adam Smith
C. Lionel Robbins
D. Marshall


148. Average Revenue is equal to:
A. Price
B. Cost
C. Profit
D. None of these


149. Total Revenue is the maximum when Marginal Revenue is ———-
A. Positive
B. Negative
C. One
D. Zero


150. Market economy is also known as:
A. Socialist economy
B. Capitalist economy
C. Mixed economy
D. Developing economy


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