Which of the following is one of the major causes of economic problems?
MCQ TYPE MICROECONOMICS

Quiz
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Social Studies
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University
•
Hard
Sandeep Thakur
Used 1+ times
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14 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
One of the major causes of economic problems is unlimited human wants
One of the major causes of economic problems is the alternative usage of resources
One of the major causes of economic problems is the scarcity of economic resources
All of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about the production possibility curve is accurate?
The main reason for the rightward shift of the production possibility curve is war
The main reason for the rightward shift of the production possibility curve is migration
The main reason for the rightward shift of the production possibility curve is skill development programmes
The main reason for the rightward shift of the production possibility curve is natural disasters
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about the production possibility frontier is accurate?
The production possibility frontier can be a straight line when there is a decrease in the production of both goods
The production possibility frontier can be a straight line when more amount of both the goods can be produced
The production possibility frontier can be a straight line when all the resources are equally efficient for the production of both the goods
None of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about the marginal cost is true?
When there is an increase in the marginal cost, the production possibility curve is concave to the origin
When there is an increase in the marginal cost, the production possibility curve is convex to the origin
When there is an increase in the marginal cost, the production possibility curve is similar to the origin
None of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements about the economy is correct?
An economy is a system that helps in the production of goods and also enables people to earn a living
An economy is a system that helps in the production of services and also enables people to earn a living
Both a and b are correct
Both a and b are incorrect
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements reflect the correct situation related to the allocation of the resources?
Allocation of the resources comes under the causes of economic problems
Allocation of the resources comes under the causes of opportunity cost
Allocation of the resources comes under the causes of central problems
Allocation of the resources comes under the causes of marginal demand
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following conclusions is true about the statement ‘Rich people should be taxed more’?
The statement ‘rich people should be taxed more is an example of positive economic analysis
The statement ‘rich people should be taxed more is an example of productive economic analysis
The statement ‘rich people should be taxed more is an example of normative economic analysis
The statement ‘rich people should be taxed more is an example of negative economic analysis
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