Microeconomics quiz

Multiple choice questions from january series

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  • Created by: Sophie
  • Created on: 27-04-13 18:25

1. which is associated with a missing market

  • a govt subsidising agricultural production
  • a monoploy restricting output
  • the production of a negative externality
  • a firm deciding to produce a private good
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Other questions in this quiz

2. which one of the following would shift the supply curve for a good to the left

  • a decrease in the rate of growth of labor productivity
  • a decrease in subsidies granted to producers
  • a dercrease in demand for the good
  • a decrease in the elasticity of supply of the good

3. the demand curve for a normal good will shift to the left if

  • the tax on the good increases
  • the price of a complementary good increases
  • the price of the good increases
  • there is a successful advertising campaign for the good

4. cross elasticity of demand measures the extent to which a change in

  • the demand for one good affects the price of another good
  • the price of one good affects the demand for another good
  • consumers' incomes affect the demand for a good
  • the demand for a good affects the amount supplied

5. an economic good is one which

  • is supplied competitively
  • has an opportunity cost in production
  • doesn't use up resources
  • makes a profit

Comments

davidsalter

This 10 question multiple choice quiz tests several aspects of unit 1 micro economics and could provide a relief from intensive reading as well as a guide to areas still needing revision.

Nimrahkhan

Not easiest resource but 0k for basic revision

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