WorksheetsEconomics MCQ/ Tick Box, Fill the Blanks, Poll & Open ended
Total questions: 15
Worksheet time: 9mins
1-Demand for a commodity refers to:
Need for the commodity
Desire for the commodity
Amount of the commodity demanded at a particular price and at a particular time
Quantity demanded of that commodity
The horizontal demand curve parallel to x-axis implies that the elasticity of demand is:
Zero
Infinite
Equal to one
Greater than zero but less than infinity
An individual demand curve slopes downward to the right because of the:
Working of the law of diminishing marginal utility
substitution effect of decrease in price
income effect of fall in Price
All of the above
The supply of a good refers to:
Stock available for sale
Total stock in the warehouse
Actual Production of the good
Quantity of the good offered for sale at a particular price per unit of time
The term microeconomics and macroeconomics were first used by (a)
Microeconomics is concerned with the study of
aggregate demand
aggregate supply
individual demand
national income
Who is the father of Economics?
The amount of resources in an economy:
Are always fixed
Can never decrease
Always increase over time
Are limited at any moment in time
In the short run, when the output of a firm increases, its average fixed cost:
Remains constant
Decreases
Increases
First decreases and then rises
The cost of one thing in terms of the alternative given up is called:
Real cost
Production cost
Physical cost
opportunity cost
After video, what is the most important element in any multimedia presentation?
Film
Audio
Story
Which coin is the quarter?
Find all the five dollar bills.
