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Introduction to Micro Economics Interview Questions

Below we have listed all the Introduction to Micro Economics Interview Questions and answers. Feel free to comment on any Introduction to Micro Economics Interview Questions or answer by the comment feature available on the page.

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Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.

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Socialist economy is also known as: a) Mixed economy b) Planned economy c) Capitalist economy d) None of the above
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Economic problem arises when:-

a) When wants are unlimited
b) When resources are unlimited
c) When resources have alternative uses
d) All of the above
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What will be the shape of PPC curve when marginal opportunity cost is constant? a)Concave b)Convex c)Backward bending d)Straight line
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In a free market economy, when consumers increase their purchase of a item, the price increases due to

a)Demand,Supply
b)Regulation
c)Cartelisation
d)Production of items
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Which of the following is not a feature of a capitalist economy? a)Right to private property b)Restrictions on consumers Right to choose c)Profit motive d)Freedom of enterprise
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In which type of economy do consumers and producers make their choices based on the market forces of demand and supply? a)Open Economy b)Controlled Economy c)Command Economy d)Market Economy
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Under a free economy ,prices are: a)Regulated b)Determined through free interplay of demand and supply c)Partly Regulated d)None of these
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How are depreciation keys defined?
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If the opportunity cost is constant, then PPC would be: a)Convex b)Straight line c)Backward bending d)Concave
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Which one is the feature of Marshall's definition? a)Limited ends b)Scarce means c)Study of wealth as well as study of man d)Study of allocation of resources
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Where does price mechanism exists? a)Capitalist economy b)Socialist economy c)Both type of economies d)None of the above
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According Robbins, 'means' are: a)Scarce b)Unlimited c)Undefined d)All of these
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Dual system of pricing exist in: a)Free market economy b)Socialistic economy c)Mixed economy d)None of the above
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What is the clearing basis for check deposit?
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Who has defined economics as "Science which deals with Wealth"

a)Adam Smith b)Canon c)J.B. Say d) Ford
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The term "Mixed Economy" denotes:-

a) Private Sector.
b) Co-existence of both Private and Public Sectors in the economy.
c) Public Sector.
d) None of the Above.
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A developed economy uses_____ technique in production. a)Labour intensive b)Capital intensive c)Home-based d)Traditional
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Positive science always explains
a)What is?
b)What ought to be?
c)What is right or wrong?
d)None of the above
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Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
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