Quiz on Production Possibility Frontier and Consumer Equilibrium

Quiz on Production Possibility Frontier and Consumer Equilibrium

12th Grade

11 Qs

quiz-placeholder

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Quiz on Production Possibility Frontier and Consumer Equilibrium

Quiz on Production Possibility Frontier and Consumer Equilibrium

Assessment

Quiz

Others

12th Grade

Easy

Created by

Kapil Rathi

Used 1+ times

FREE Resource

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Production Possibility Frontier (PPF) represent?

Maximum possible output combinations of two goods

Maximum satisfaction from consumption

Consumer spending patterns

Income distribution in an economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the focus of Consumer Equilibrium?

Production decisions of an economy

Market competition analysis

Resource allocation efficiency

Consumption decisions of an individual consumer

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the PPF relate to?

Scarcity of resources and their efficient use

Consumer income and spending

Market demand and supply

Government regulations

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What shape does the PPF graph typically take?

Downward sloping concave curve from origin

Upward sloping curve

Circular graph

Straight line

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What key concept is associated with the PPF?

Consumer surplus

Utility maximization

Opportunity cost and efficient resource allocation

Marginal Rate of Substitution (MRS)

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the objective of the PPF?

To determine pricing strategies

To show trade-offs and choices in production

To maximize consumer satisfaction

To analyze market trends

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Budget Line in Consumer Equilibrium represent?

Consumer income and expenditure

Maximum output of goods

Market equilibrium

Trade-offs in production

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