
Introduction to Microeconomics
Authored by Yusnifarina Yunus
Business
University
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Microeconomics is concerned with
the distribution of goods among households.
the size of aggregate money flows in the economy.
the quantities of each product produced
the allocative function of change in relative prices.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the opportunity cost of a decision?
The total cost of producing a good
The cost of the next best alternative foregone
The cost of government intervention
The cost of labor and materials
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The problem of scarcity is relevant to
third world countries
countries with low income
countries before practicing mass production
all countries and individual
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A point inside the production possibility curve may indicate
all productive resources are efficiently utilized
inefficient allocation of productive resources
full employment of scarce resources
technological efficiency
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A combination inside the production possibilities curve is
attainable and involves an efficient use of society's resources
Attainable but would not be in the best interest since not all resources are utilized
Unattainable because it is not listed as a combination
Unattainable because society does not have sufficient resources to produce this combination
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following will result in an outward movement of the production possibilities curve?
Economic recession
Technological advancement
A decline in population
Political instability
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Malaysian economy would best be classified as
free market economy
planned economy
mixed market economy
an Islamic economy
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