Introduction to Micro Economics Quiz

Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?

• Marshall

• Ricardo

• Ragnar Frish

• None of these

Which of the following is studied under Micro Economics ?

• Individual unit

• Economic Aggregate

• National Income

• None of these

Which of the following economic activities are included in the subject-matter of Economics?

• Economic Activities related to Unlimited Wants

• Economic Activities related to Limited Resources

• Both (a) and (b)

• None of these

On which base structure of economic problems has been installed?

• Unlimited Wants

• Limited Resources

• Both (a) and (b)

• None of the above

‘Micros’, which means ‘Small’ belongs to:

• Arabian word

• Greek word

• German word

• English word

Which of the following statement is true?

• Human wants are infinite

• Resources are limited

• Scarcity problem gives birth to choice .

• All of these

Which of the following is the salient feature of factors (or resources) ?

• These are limited as compared to wants

• These have alternative uses

• Both (a) and (b)

• None of the above

Which is a central problem of an economy ?

• Allocation of Resources

• Optimum Utilisation of Resources

• Economic Development

• All of these

Which of the following Is a type of economic activities ?

• Production

• Consumption

• Exchange and Investment

• All of these

To which factor, economic problem is basically related to:

• Choice

• Consumer’s Selection

• Firm Selection

• None of these