Microeconomics Quiz

Which of the following is a topic under Microeconomics?

• Key players and factors of production

• Money supply and demand

• Elasticity

• Inflation, employment and interest rates

What should be ignored according to the chapter topics?

• Basics of supply and demand

• Game theory pages 100 thru 113

• Marginal cost analysis

• Profit maximization

Which topic is associated with Macroeconomics?

• Substitutes and complements

• Profit maximization

• Inflation, employment and interest rates

• Marginal cost analysis

Which of the following is an implication for practical business issues mentioned in the document?

• Strategic Marketing

• Pricing of products and services

• Managerial Economics

• Corporate Financial Management

Which topic appears in advanced graduate business courses according to the document?

• Projections of future costs

• Assessment of competitive conditions

• Accounting for Planning & Control

• Pricing of products and services

What does microeconomics describe?

• Factors that influence prices of assets and services

• The history of economic systems

• The role of government in the economy

• The impact of technology on production

How are prices set according to microeconomics?

• Through government regulation

• By the interaction between supply and demand

• By random chance

• Through technological advancements

What assumption is made about parties in microeconomic theory?

• They are irrational and unpredictable

• They act in their own self-interest and are rational

• They always cooperate for the common good

• They are influenced by cultural factors

What is the relationship between price and the quantity demanded for normal goods?

• Direct

• Inverse

• Neutral

• Exponential

On a demand curve graph, where is the price typically plotted?

• On the x-axis

• On the y-axis

• On both axes

• Not plotted