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Class 12 Economics (Macro Economics) Chapter 1 Introduction Quiz 2 (60 MCQs)

Quiz Instructions

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1. The opportunity cost of spending on the military are all of the following EXCEPT
2. The art of predicting demand for products or services at some future time
3. Every economy faces the economic problems like:
4. A financial strategy aimed at ensuring maximum efficiency in a company's cash flow.
5. A Point below PPC indicates .....
6. The field of economics that deals with the economic concepts and analysis of problems that are required to formulate rational managerial decisions
7. What determines the overall level of prices and the rate of inflation?
8. Focus on a Company's maximum Profit is the part of Microeconomy.
9. In a centrally planned economy the economic decision taken by.
10. In a pure market economy, Prices are determined bySelect one:
11. An economic system that decides what to produce, how to produce, and for whom to produce according to long-standing customs is?
12. Clearly defined and enforced property rights are elements of which type of economic system?
13. The exchange of goods and services where both parties mutually benefit and are better off afterward is known as .....
14. Normative economics deals with:
15. Which of the following is not central economic problem.
16. Although water is useful yet it is cheap. On the contrary diamond is not much of use, still it is very expensive ..... The reason for this paradox is scarcity.
17. The government does not interfere in the process of decision making under:
18. ..... is the responsiveness of the quantity demanded (QD) of a product to a change in its own price (P).
19. Any point beyond PPF shows
20. Good economic decisions are made when the benefits of a choice are greater than the
21. Who provides top leadership for the Federal Reserve?
22. Scarcity definition was given by:
23. How many stages in trade cycle
24. Word micro and macro is derived from
25. Positive economics involves statements which are:
26. Whcihc of the following is an economic activity?
27. The graph used to illustrate the impact of scarcity on the economy is known as a:
28. The science of economics was born with the publication of Adam Smith's an Inquiry into the Nature and Causes of Wealth of Nations in the year
29. In Which Economic Analysis, We try to understand whether the given working mechanisms are desirable or not?
30. Which of the following can not be called a central problem of an economy?
31. PPC shifts rightward/Outward when:
32. When production in below the production possibility frontier it is said to be
33. It helps in covering the gap between the problems of logic and the problems of policy
34. 1, What is the shape of a production possibility curve?
35. Cost that do not vary with the amount of output produced
36. The branch of economics which studies the economy as a whole .....
37. What type of Economic System used by the Government of Indonesia?
38. Micro economics is also called as
39. Whcih of the following is an Element of Economic Activities
40. This concept is very useful in explaining what is happening in the market and economy
41. Microeconomics is is also known as
42. The economic problem arises due to
43. Basic problem that you learn in economics is?
44. Famous book published by john maynard Keynes
45. ..... is the average of all prices of goods and services currently being produced in the economy.
46. Which of the following is not included in Primary sector
47. Free education should be given to the poor.
48. The Federal Reserve's two primary goals DO NOT include
49. Which is not a micro economic study
50. The law of scarcity
51. Which of the following is studied in Macroeconomics?
52. The problem of what to produce covers The issue relationship to
53. In which type of economics we study the economy as whole by focusing our attention on aggregate measure.
54. Method adopted in micro economics analysis
55. The most important function in managerial economics
56. The resources for satisfying human wants are:
57. In economics, incentives are used to
58. Concepts studied under micro economics
59. A statement which does not offer any suggestion is known as:
60. Macro economics means
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