Revision of Microeconomics - 11C&G

Revision

Microeconomics

Open Ended

What is an economic problem?

Open Ended

What does the point 'X' and 'Y' indicate?

Multiple Choice

Utility refers to:

• Excess capacity of a commodity

• Want satisfying capacity of a commodity

• Demand satisfying capacity of commodity

• None of these

Multiple Choice

The activity which is concerned with money or wealth is:

• Economic activity

• Non-economic activity

Open Ended

Define Marginal Rate of Transformation.

Open Ended

Give one reason for a rightward shift of the production possibility curve.

Open Ended

Massive unemployment shifts the PPC to the left. Defend or refute.

Open Ended

An individual has rs.164. With this he can eat in a restaurant or buy his

favourite book. He buys his favourite book for rs.164. What is the opportunity cost of buying the book?

Multiple Choice

With the increase in consumption by one unit of the commodity, TU increases from 150 units to 180 , then Marginal Utility will be:

• 50

• 1.2

• 30

• 0.833

Multiple Select

“The government should provide basic healthcare to all citizens.” This statement belongs to:

• Positive economics

• Normative economics

Poll

How well have you understood above topics?

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