
Quiz on Production Possibility Frontier and Consumer Equilibrium

Quiz
•
Others
•
12th Grade
•
Easy
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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