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WorksheetsReview - Microeconomics & Macroeconomics
Total questions: 16
Worksheet time: 8mins
Microeconomics deals with
economy as a whole
individual
none of these
both economy as whole and individual
study of Microsoft company profit for the year 2020-21 is an example of?
Microeconomics
Macroeconomics
Any of the two-microeconomics or macroeconomics
None of these
Macroeconomics deals with
Economy as a whole
Individual
Both Economy as a whole as well as individual
None of these
"Studying the GDP contribution made by three sectors of the economy i.e. Primary sector, Secondary sector and Tertiary sector" is an example of?
Microeconomics
Macroeconomics
Any of these
None of these
Which option is not studied in macroeconomics?
The consequences of a higher interest rate
The effects of a lower exchange rate
The impacts of price changes in the market of smartphones
The impacts of progressive taxation
Macroeconomis could be defined as ...
the part of economics concerned with large-scale or general economic factors and policies that affected millions of people.
is the study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, resources, and/or methods of production.
Microeconomics can be defined as ...
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
the study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, resources, and/or methods of production.
The economic system of communist countries is most closely related to which of the following:
Command
Market
Traditional
Mixed
In a command economy, economic decisions are made by the
Consumers
market
government
producers
Which of the following BEST describes a market system?
The government provides services, such as telephones and television.
A person can start any legal business and charge any price.
The government provides food and housing to all workers.
Businesses are owned by the government.
A market economy is very different from a command economic system or a traditional system. Which of the following is found in a market economy?
Free labor
Competition between businesses
Government control of industry
Government control of agriculture
An economic system that allows individuals to start businesses, but still has government regulations is
Traditional
Market
Command
Mixed
Which economic system does the government make all economic decisions and owns most of the property - it is sometimes called communism?
Traditional
Command
Market
Mixed
Which economic system are all resources privately owned and the buyers and sellers answer the three economic questions?
Traditional
Command
Market
Mixed
Which type of economic system is it when the market decides what needs to be produced, private businesses decide how to produce, and consumers decide what they are willing to pay for goods?
Traditional
Command
Market
Mixed
Which type of economic system is it when the government decides what to produce, the government decides how to produce, and the government decides who gets the goods produced?
Traditional
Command
Market
Mixed
