Principles of Micro Economics Quiz

Who is termed as the Father of Economics

• Alfred Marshal

• L. Robbins

• Adam Smith

• None of the above

A consumer will always try to maximize

• Satisfaction

• Number of customers

• Market reach

• Profits

Tea and coffee has got __________ cross elasticity

• Positive

• Negative

• Zero

• Infinity

__________ is highly elastic

• Jewellery

• Phones

• Cars

• All of above

Habits is ______ related to quantity demanded of a product

• Directly

• Inversely

• Parallel

• None of above

Which of the following good are complementary goods

• Pepsi & coca-cola

• A razor & blade

• Sandisk Pen drive and HP Pen drive

• Apple laptop and HP laptop

Any combination of two goods on higher indifference cure gives _____ satisfaction

• Lower

• Higher

• Same

• Zero

Which of the following is a correct statement

• Indifference curve slopes upward to the right

• Indifference curve is convex to the origin

• Two Indifference curves can intersect each other

• All of above

_______ is a commodity for which more is preferred to less.

• Good

• Bad

• Neutral

• Salt

_______ is a commodity for which less is preferred to more.

• Good

• Bad

• Neutral

• Salt