
Unit-1 Quiz
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Professional Development
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University
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Deepali Saluja
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Microeconomics focuses on:
Aggregate national income
Behavior of individual units like consumers and firms
General price level
Balance of payments
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Macroeconomics deals with:
Market demand for ice cream
Household budget
Aggregate economic variables like GDP and employment
Pricing of petrol by one firm
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a microeconomic study is:
Inflation trends in India
Causes of unemployment
Determining the price of wheat in a local market
National income accounting
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is NOT a macroeconomic concept?
Aggregate demand
National output
Consumer equilibrium
Employment level
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Opportunity cost means:
Total expenditure incurred
Value of next best alternative forgone
Total utility from a good
Historical cost
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following illustrates opportunity cost?
Money paid for groceries
Foregone salary when studying full-time
Loan repayment
Taxes paid to government
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who introduced the concept of opportunity cost?
Alfred Marshall
Friedrich von Wieser
Adam Smith
J. M. Keynes
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