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Economics Test ...

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  • Question 1
    5 / -1

    Which of the following economists divided economics into two subsequent branches i.e. Microeconomics and Macroeconomics.

  • Question 2
    5 / -1

    The central problem of an Economy is?

  • Question 3
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    Which of the following is NOT related to Microeconomics?

  • Question 4
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    In a market economy, also called _______, only those consumer goods will be produced that are in demand.

  • Question 5
    5 / -1

    What is meant by ‘Public Good”?

  • Question 6
    5 / -1

    Which of the following is correct regarding Opportunity Cost? 

  • Question 7
    5 / -1

    When there is a growth of resources, a concave 'production possibility curve' will:

  • Question 8
    5 / -1

    The condition in which market supply matches market demand is called 

  • Question 9
    5 / -1

    If demand curve for almonds is D = 73000 - 30P and supply curve is S = 18000 + 25P, find the equilibrium Quantity?

  • Question 10
    5 / -1

    Which of the following is NOT a central economic problem, which is solved by the production possibility curve (PPC)?

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